The Board of Directors of Faurecia acknowledges the undertakings of the French State made to the European Commission, in connection with the review of the aid granted by the French State to the PSA Peugeot Citroën Group.
These undertakings, detailed in a European Commission press release issued today, cover Faurecia, an operation consolidated by PSA Peugeot Citroën, as regards possible external growth transactions of enterprises or assets in cash, for which a particular authorization process is planned by the European Commission for transactions above 100 million Euros per year by PSA Peugeot Citroën and its consolidated operations.
The Board of Directors took due note of the specific process that has been decided by the European Commission for the review of such external growth transactions to be possibly made by Faurecia. The details of this process should be published by the European Commission in the coming weeks.
On account of the dynamics of Faurecia’s strong internal growth, and the specific conditions imposed by the European Commission, the Board of Directors is of the view that the process is unlikely to have a material impact on the implementation of the Group’s strategy.
