Following the signing of an European partnership agreement between Banque PSA Finance and Santander Consumer Finance, PSA Peugeot Citroën and Banque PSA Finance announce today the signing of a binding Framework Agreement with Banco Santander Brazil, to develop a partnership between the two groups in Brazil.
In this operation, Banco Santander Brazil will acquire shares of the Group financial companies in Brazil and this partnership will take the form of a financial company, 50/50 owned by Banque PSA Finance and Banco Santander Brazil.
This partnership is subject to the approval of competent competition and banking regulatory authorities.
Commenting on this announcement, Jean-Baptiste de Chatillon, CFO of PSA Peugeot Citroën and Chairman of Banque PSA Finance, declared: “This agreement is key to rebuild the Group’s financial fundamentals in Brazil. This partnership with Banco Santander Brazil will enable the Bank to offer competitive interest rates to customers of Peugeot, Citroën and DS brands.”
