EU Launches Antitrust Probe Over Peugeot Restructuring

Law360, New York (May 2, 2013, 5:56 PM EDT) -- The European Commission launched an in-depth investigation Thursday into whether €7 billion ($9.1 billion) in state aid to help restructure French auto giant PSA Peugeot Citroen's financing unit complies with the European Union's antitrust rules.

The antitrust watchdog granted temporary approval allowing France to give Banque PSA Finance, Peugeot's wholly owned financing wing, a €1.2 billion guarantee for new bond issues in February. The EC said it was now opening a full probe into the €7 billion in guarantees and €85.9 million in grants and repayable...
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