experiencing financial difficulties of Japanese carmaker Mitsubishi Motors may be under the control of the French Alliance of Automobile Peugeot-Citroen.

According to information agencies Bloomberg, the French offer the Japanese side of the $ 1.8 billion in cash and 18% of Peugeot in exchange for a 51% stake in Mitsubishi. This proposal is consistent with market trends, in which there is a rapid strengthening of the Euro-Japanese auto alliance.

Peugeot-Citroen - the second largest European car manufacturer. In 2009, he won 12.9% of the market, giving the German company Volkswagen with a share of 21,1%, but ahead of France”s Renault with a share of 9,2%. Recently, Peugeot-Citroen”s position came under threat due to the fact that its closest competitors entered into alliance with the Japanese: last week, Volkswagen has agreed to acquire for $ 2.5 billion, 19.9% of the shares of the Japanese midget cars and motorcycle manufacturer Suzuki, and Renault previously acquired 44% stake in Japan”s Nissan. Association of European car manufacturers with the Japanese give both sides benefit from increased scale, improved market access and technology transfer.

Stock analysts believe the exchange of shares of Mitsubishi and Peugeot logical outcome of their long-standing “strategic partnership”. On Friday, after reports of a possible merger of automakers Peugeot shares fell 3.6%, while Mitsubishi Paper jumped in price by 7,5%.

Cooperation

Peugeot-Citroen and Mitsubishi began in the early 2000″s. and it was the joint product of crossover Citroen C-CrosserPeugeot 4007, created on the basis of car Mitsubishi Outlander XL. In addition, cooperation between the companies includes construction in 2011, a joint plant in Russia with annual capacity of up to 160 thousand vehicles French and Japanese brands. Companies also agreed on joint production in late 2010 for the European market of electric vehicles based on the Japanese model of i-MiEV, able to drive 160 miles without recharging.

According to the analyst of the London branch of a bank UBS Philip Ushvy, Mitsubishi Corporation in dire need of money and wants to strengthen the partnership, but the sale of its controlling interest in the company Peugeot may hinder the fact that the French are also experiencing financial difficulties and can not find enough funds. Now with capitalization of $ 8.6 billion concern Peugeot burdened with debts of $ 2.9 billion, and attempts to take the additional funds will negatively affect the credit rating company, which is already below investment grade.

According to the chief executive of the alliance Peugeot-Citroen Philippe Varin, the company has worked for Peugeot in 2009 with a loss of approximately $ 1.2 billion the first six months of last year, he said, were “very complicated”, whereas in the second half in 2009 there was a “return to a much more favorable world market, and in 2010, is expected global recovery in demand for cars in all regions except Europe, which is planned to decline due to reductions in government support programs.

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