PARIS — Peugeot household holding firm FFP stated it has raised its stake in PSA Group by 2 % to 14.38 %.
FFP additionally stated it additionally holds 19.36 % of PSA’s voting rights.
The holding firm stated its funding was a part of the upcoming merger of PSA and Fiat Chrysler Vehicles right into a mixed firm to be known as Stellantis.
“This transaction clearly demonstrates [the family’s] dedication and need to turn into one of many principal shareholders of the long run Stellantis Group and displays its confidence in its future growth,” household leaders Philippe Peugeot and Robert Peugeot stated in a statement on Wednesday.