Dongfeng, Peugeot maker PSA extend joint venture despite stake sale to smooth mega-merger

BEIJING/PARIS: China's Dongfeng Motor Group and Peugeot maker PSA are extending their business cooperation, despite the Chinese company reducing its stake in PSA to help smooth the French carmaker's merger with Fiat Chrysler Automobiles .

Analysts said the move could smooth US regulatory approval for PSA's roughly US$50 billion merger with Italian-American carmaker FCA .The sale of Dongfeng's shares in PSA, worth around €680 million , will leave the Chinese group holding around 4.5 per cent of the merged PSA-FCA, which is set to become the world's fourth-biggest carmaker by sales volumes.

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