Reuters logo
Peugeot prepares finances for GEFCO suitors -sources
July 25, 2012 / 3:34 PM / 5 years ago

Peugeot prepares finances for GEFCO suitors -sources

LONDON, July 25 (Reuters) - Peugeot is working on a financing backstop for a sale of logistics division GEFCO, people familiar with the process said, hoping to keep the disposal on track to bring in up to 1 billion euros ($1.2 billion) critical to relieving pressure on the French auto group.

From an initially large field of private equity groups, Peugeot has narrowed the group of potential buyers to four private equity bidders -- Gores Group, Platinum Equity, PAI and a team of CVC and AXA Private Equity -- four people familiar with the situation said.

Peugeot’s adviser on the GEFCO sale, Credit Suisse , is working on a financial package of up to 1 billion euros of loans and a high-yield bond that would be graded by a ratings agency, those people said. (Editing by Douwe Miedema)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below