PSA Peugeot Citroen: French state gets out

K short After the French car company PSA announced that it would take over the German car manufacturer Opel from GM, the French state is withdrawing from the PSA group.

As reported by Automobilwoche, France is selling its 12.7 percent stake in PSA for 1.92 billion euros to the public bank Bpifrance. In 2014, when PSA was in crisis, the state acquired a stake in the car manufacturer. The AFP news agency quoted an unnamed source, according to which the billions in proceeds will probably be used to provide the electricity giant EDF and the nuclear power company Areva with new capital.