RUEIL-MALMAISON, France--(BUSINESS WIRE)--Regulatory News:
Groupe PSA (Paris:UG):
The Managing Board and the Supervisory Board of Peugeot S.A. have decided to propose to shareholders to transform Peugeot S.A. into a European Company (Societas Europaea – SE) at the next Shareholders meeting.
This business structure, used by a growing number of companies in Europe, is recognised in all member states of the European Union. It would reflect Groupe PSA’s European scope, following the successful integration of Opel/Vauxhall.
The project to transform Peugeot S.A. into a European Company would have no impact on the governance, on operations, organisation or place of listing of Peugeot S.A., but would allow the Group to align its legal structure with its economic and social situation.
The Company’s transformation would result in a change in its legal form without reducing the current rights of shareholders or other stakeholders, and without impacting the location of the Company’s head office or its centralised management in France. The terms of the social dialogue within Peugeot S.E. will be the subject of discussions with the social partners in the coming weeks.
The transformation project will be submitted to the Peugeot S.A. Shareholders’ Annual General Meeting taking place on 14 May 2020.
About Groupe PSA
Groupe PSA designs unique automotive experiences and delivers mobility solutions to meet all customer expectations. The Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall, and provides a wide array of mobility and smart services under the Free2Move brand. Its ‘Push to Pass’ strategic plan represents a first step towards the achievement of the Group’s vision to be “a global carmaker with cutting-edge efficiency and a leading mobility provider sustaining lifetime customer relationships”. An early innovator in the field of autonomous and connected cars, Groupe PSA is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia.
Communications Department – www.groupe-psa.com/en – +33 6 61 93 29 36 – @GroupePSA