Peugeot SA: takes control of Chinese distributor
(CercleFinance.com) - Peugeot SA (PSA Group), the French carmaker, this morning announced the acquisition of a majority stake in the capital of Chinese spare parts distributor Jian Xin.
The financial terms of the deal were not disclosed.
Created over 20 years ago, Jian Xin, whose clients include independent repairers, is presented as the leader of its sector in the Shanghai region, with over five million parts sold each year from leading OEM brands.
This acquisition will accelerate the deployment of Peugeot's aftermarket offer in China by quickly taking a position on this market which has some 130 million vehicles, Peugeot SA added.
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