Dongfeng Group intends to acquire 75% equity of Shenlong Finance.

On April 13, Dongfeng Group announced that it had entered into an equity transfer agreement with Peugeot Citroen Dutch Finance Company (hereinafter referred to as "Dutch Finance Company") and Shenlong Automobile Co., Ltd., a wholly-owned subsidiary of Banque PSA Finance under Stellantis Group, and reached an understanding on the transfer of the equity of Dongfeng Citroen Finance Company.

According to the announcement, PFN and DPCA have agreed to transfer their respective 25% and 50% shares. To this end, Dongfeng Group will also purchase the above equity, with a total price of 37180,000 yuan.

After the completion of equity transfer and delivery, Dongfeng Group will acquire 75% equity of Shenlong Finance, and Shenlong Finance will become a direct wholly-owned subsidiary of the company.

It is understood that Dongfeng Peugeot Citroen Finance, one of the protagonists of this equity acquisition, is mainly engaged in providing auto loans to dealers, providing auto consumer credit and other related businesses to individuals and commercial customers, so as to promote the sales of new and used cars manufactured or imported by the Group.

At present, the completion of the transaction still needs the approval of the regulatory authorities and is expected to be completed in the second half of 2022.