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PSA says China's Baoneng potential buyer for its 50% Capsa stake

Reuters

PARIS (Reuters) - Chinese group Baoneng is on a list of possible buyers of French car maker PSA Group's <PEUP.PA> 50% stake in Shenzhen-based Capsa, which builds cars under PSA's premium DS brand, a PSA spokesman said on Friday.

PSA's board will review the planned sale of Capsa on Dec. 6, sources familiar with the situation said.

On Thursday, PSA Group said it was preparing to sell its 50% stake in the eight-year-old Capsa joint venture with Chinese partner Chongqing Changan Automotive <000625.SZ>, which has struggled with falling sales.

(Reporting by Gilles Guillaume; writing by Geert De Clercq; editing by Jason Neely)