PSA to sell last of its stake in logistics arm Gefco

Automotive New Europe is reporting that French car manufacturer PSA is to sell its remaining 25% stake in Gefco. The maker of Citroen and Peugeot cars reportedly told French media outlets it would be putting its holding on the market. The move comes six years after PSA sold 75% of the logistics provider to Russian rail operator RZD in a $995m deal. Interestingly, last year Russian Railways indicated it may want to sell its stake, but has since been quiet. Despite PSA’s decision to sell, it is presumed the company will remain Gefco’s biggest client, having signed an eight-year deal just two years ago.