PSA Peugeot Citroën Announces Sale of Head Office Building at 75 avenue de la Grande Armée in Paris
information supplied by: Peugeot South Africa
03 April 2012
Paris – 2 April 2012
PSA Peugeot Citroën Announces Sale of Head Office Building
at 75 avenue de la Grande Armée in Paris
PSA Peugeot Citroën today signed with a subsidiary of Ivanhoé Cambridge, the real estate arm of Caisse de dépôt et placement du Québec, a commitment to sell the property complex located 69 to 81 avenue de la Grande Armée and 6 to 8 rue Pergolèse in the 16th
arrondissement of Paris. The Group will lease back the building under a renewable nine-year lease.
The sale, for a total amount of €245.5 million, was part of the property disposal programme announced by PSA Peugeot Citroën last February during the presentation of its 2011 financial results.
With its two world-renowned brands, Peugeot and Citroën, the Group sold 3.5 million vehicles worldwide in 2011, out of which 42% outside Europe. As Europe’s second largest carmaker, it recorded sales and revenue of more than €59.9 billion in 2011. PSA Peugeot Citroën has sales offices in 160 countries. In 2011, the Group dedicated more than €2 billion to research and development, especially in new energy vehicles. Its activities also include financing activities (Banque PSA Finance), logistics (Gefco) and automotive equipment (Faurecia).
For more information go to http://www.psa-peugeot-citroen.com
Jonathan Goodman +33 (0)1 40 66 47 59
Pierre-Olivier Salmon +33 (0)1 40 66 47 59
PSA Peugeot Citroën Announces Sale of Head Office Building at 75 avenue de la Grande Armée in Paris.doc (51kB)