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20 August 2010 - Gide Loyrette Nouel advises PSA Peugeot Citroën on substantial Chinese joint venture:
Gide Loyrette Nouel (GLN) has advised PSA Peugeot Citroën on a substantial joint venture with China Changan Automobile Group (Changan), one of China’s largest auto manufacturers.
The equally owned joint venture has an initial investment of RMB 8.4 billion (EUR 935 million or USD 1.24 billion) and will develop a range of light commercial vehicles and passenger cars. It will also introduce the Citroën DS line - consisting of three vehicles positioned in the small, medium and large car segments - in China.
The contract also allows for the joint venture to market, at a later date, further vehicles under the partners’ other brands, Peugeot and Changan. Based in Shenzhen, in Guangdong Province, the joint venture will have an initial annual production capacity of 200,000 vehicles and engines. The first vehicle is scheduled to be launched in the second half of 2012.
International M&A partner Guillaume Rougier-Brierre led the GLN team, assisted by Zheng Yu and Jiang Chuan in GLN’s Beijing office.
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