Peugeot Citroen it talks to controlling stake in its logistics business September 20, 2012 - 12:35 AMT PanARMENIAN.Net - French carmaker PSA Peugeot Citroen says it's in exclusive talks to sell a controlling stake in its logistics business to Russia's national railway for €800 million ($1 billion), according to The Associated Press. The carmaker said in a statement Thursday, Sept 20, the talks with JSC Russian Railways could see the Russian firm take a 75 percent in GEFCO, one of Europe's leading automotive logistics businesses. PSA Peugeot Citroen said the deal would help GEFCO expand into China, India and Latin America, in addition to accelerating its growth in Eastern Europe and Russia. Last year GEFCO made €3.8 billion in sales. It employs 10,300 people and specializes in transport of parts and vehicles for the car industry.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty  Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza.Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations.Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |
