Chongqing Changan Automobile mulls purchase of 50% stake in Changan Peugeot Citroen

Chongqing Changan Automobile Co. Ltd. plans to buy a 50% stake in Changan Peugeot Citroen Automobile Co Ltd. from its parent company, China Changan Automobile Group Co Ltd. The purchase would cost RMB 2.01 billion (US$323 million).
Changan Peugeot Citroen Automobile was set up in November 2011 as a joint venture between Changan Automobile Group Co Ltd and French carmaker PSA Peugeot Citroen. The JV had a registered capital of RMB 4 billion (US$643 million). Changan Automobile Group and PSA Peugeot Citroen each own 50% of the JV. (December 10, 2012)