troppidebiti
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molto scambiato XS0470518605
Obbligazioni societarie Monitor bond case automobilistiche e accessorio auto (4 lettori)
Imark
Forumer storico
Volumi consistenti in effetti... mah, un febbraio 2015, un pelo sotto la pari...
troppidebiti
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lorenzo63
Age quod Agis
Peugeot Mulls Letting It Ride on Mitsubishi
facendo seguito a quanto diceva Sergio Marchionne (..ne resteranno solo 6..) Peugeot è interessata all' acquisizione di una parte o piu' di Mitsubishi..
A financial car-wreck for so many years, Mitsubishi Motors seems to have caught another investor's eye.
The company is in talks with PSA Peugeot Citroen that could lead to it selling the French auto maker a major stake. Finding themselves most relieved about this, no doubt, are some of Peugeot's predecessors -- namely the Mitsubishi keiretsu group companies who have bailed out the Japanese auto maker in the past.
Other than being off the hook for another cash infusion, these companies could find themselves bought out of much of the preferred shares they currently own. The shares were acquired mostly in 2004 and 2005 for some $3.4 billion in cash and debt-equity swaps, Dealogic says, as they rescued the struggling car maker.
Mitsubishi Motors has yet to pay a dividend on the preferred stock: it can't while it has retained losses on its balance sheet, currently standing at $9.3 billion.
It'll take years to fill that hole -- in the year through March the company is forecast to earn only $57 million -- and when it does the company will be on the hook for a substantial chunk of its cash flow. The preferred stock dividends will cost it some $230 million a year. Mitsubishi hasn't paid a common stock dividend in a decade.
So buying back the preferreds is a no-brainer for Mitsubishi Motors and that would help its previous backers -- companies like Mitsubishi Heavy Industries and Mitsubishi Corp. Another benefit? A Peugeot-Mitsubishi tie up would be the No. 6 auto company by unit sales in the world, which could help achieve some economies of scale that'll bolster profits -- including raising utilization rates at Mitsubishi's U.S. plant and letting it shut down a plant in the Netherlands.
Peugeot, on the other hand, gets access to Mitsubishi's electric car technology and its emerging-market sales networks. But for this, it would be teaming up with a still struggling company. Expected revenue in March will be down 30% from where it stood five years ago.
The Mitsubishi keiretsu companies (concetto interessante per chi è stato in Giappone..) aren't the only ones with a cautionary tale about investing in Mitsubishi Motors. Daimler Chrysler, as it was then called, in 2000 bought a 34% stake in Mitsubishi Motors only to dump its holding in late 2005 after a recall fiasco and plunging sales led Mitsubishi Motors into massive losses -- nearly $5.5 billion that year.
Now, it could be Peugeot's turn for a ride.
facendo seguito a quanto diceva Sergio Marchionne (..ne resteranno solo 6..) Peugeot è interessata all' acquisizione di una parte o piu' di Mitsubishi..
A financial car-wreck for so many years, Mitsubishi Motors seems to have caught another investor's eye.
The company is in talks with PSA Peugeot Citroen that could lead to it selling the French auto maker a major stake. Finding themselves most relieved about this, no doubt, are some of Peugeot's predecessors -- namely the Mitsubishi keiretsu group companies who have bailed out the Japanese auto maker in the past.
Other than being off the hook for another cash infusion, these companies could find themselves bought out of much of the preferred shares they currently own. The shares were acquired mostly in 2004 and 2005 for some $3.4 billion in cash and debt-equity swaps, Dealogic says, as they rescued the struggling car maker.
Mitsubishi Motors has yet to pay a dividend on the preferred stock: it can't while it has retained losses on its balance sheet, currently standing at $9.3 billion.
It'll take years to fill that hole -- in the year through March the company is forecast to earn only $57 million -- and when it does the company will be on the hook for a substantial chunk of its cash flow. The preferred stock dividends will cost it some $230 million a year. Mitsubishi hasn't paid a common stock dividend in a decade.
So buying back the preferreds is a no-brainer for Mitsubishi Motors and that would help its previous backers -- companies like Mitsubishi Heavy Industries and Mitsubishi Corp. Another benefit? A Peugeot-Mitsubishi tie up would be the No. 6 auto company by unit sales in the world, which could help achieve some economies of scale that'll bolster profits -- including raising utilization rates at Mitsubishi's U.S. plant and letting it shut down a plant in the Netherlands.
Peugeot, on the other hand, gets access to Mitsubishi's electric car technology and its emerging-market sales networks. But for this, it would be teaming up with a still struggling company. Expected revenue in March will be down 30% from where it stood five years ago.
The Mitsubishi keiretsu companies (concetto interessante per chi è stato in Giappone..) aren't the only ones with a cautionary tale about investing in Mitsubishi Motors. Daimler Chrysler, as it was then called, in 2000 bought a 34% stake in Mitsubishi Motors only to dump its holding in late 2005 after a recall fiasco and plunging sales led Mitsubishi Motors into massive losses -- nearly $5.5 billion that year.
Now, it could be Peugeot's turn for a ride.
troppidebiti
Forumer storico
con lo yen alle stelle questi si comprano la mitsubishi??
lorenzo63
Age quod Agis
Mitsubishi Motors, Peugeot In Capital Tie Talks
TOKYO (Dow Jones)--Mitsubishi Motors Corp. (7211.TO) and PSA Peugeot-Citroen (UG.FR) said Thursday they are in talks over a capital tie-up that could see the French auto maker take a significant stake in the Japanese company as an industry-wide slowdown and the need to invest in green car technology fuel consolidation pressures.
While Mitsubishi Motors said the tie-up was just one of a range of options it is discussing with Peugeot-Citroen, shares in Japan's sixth-biggest auto maker by sales surged as much as 23% during the day as investors relished the prospect of a deal that could help Mitsubishi Motors both develop electric vehicle technology and secure funds it may need to pay dividends for preferred shares.
"We have been talking about whether we can have a deeper relationship, and a capital tie-up is one among many options," said a Mitsubishi Motors spokesman, declining to comment on the scale or value of any potential deal.
PSA Peugeot Citroen later said separately that "it has started discussions with (Mitsubishi Motors) concerning the possibility of extending their relationship which could lead to a strategic partnership."
The Nikkei reported earlier Thursday that Peugeot-Citroen, Europe's second-biggest auto maker by sales, could buy a stake of 30% to 50% in Mitsubishi Motors for up to Y300 billion in a private placement of new shares, less than half of the French company's market capitalization of EUR5.76 billion, or about Y760 billion, based on its share closing price Wednesday.
Citing an executive close the matter, the paper also said the Mitsubishi group would be open to Peugeot Citroen taking a majority stake in Mitsubishi Motors.
Analysts say the potential capital alliance would allow Peugeot-Citroen to save time in obtaining future key green technologies by using the Japanese firm's well-developed systems for electric cars. It could also make a foray into the U.S. and some growing Asian markets through Mitsubishi's sales networks in those regions.
For Mitsubishi Motors, the potential deal would help it overcome a major challenge. The company is obliged to pay a dividend worth Y20 billion at the end of March for preferred shares that it began issuing five years ago to Mitsubishi Heavy Industries Ltd., Mitsubishi Corp., Bank of Tokyo-Mitsubishi UFJ and other Mitsubishi group firms as part of its previous restructuring plan.
The Japanese car maker would also be able to share the hefty cost of developing advanced electric cars with Peugeot and to reduce the production costs of these vehicles by supplying them to Peugeot.
The talks between the two firms could raise expectations that more deals might be coming, following speculation earlier this year that Suzuki Motor Corp. was in talks with Volkswagen AG over a possible tie-up.
The two auto makers have already struck partnership deals that include Mitsubishi supplying its i-MiEV electric city car and its Outlander sports utility vehicle to Peugeot-Citroen. They also plan to jointly produce SUVs in Russia.
The talks come as global auto makers, only now showing signs of limping out of a bruising slowdown brought on by the economic slowdown, are shifting their marketing focus to emerging markets and ramping up investments to develop fuel-efficient, low-emission cars to meet stricter emission regulations by using the latest technology.
However, entering these markets and developing these technologies is proving to be a costly challenge for auto makers as they struggle with losses and sharp drops in profits.
Peugeot-Citroen reported an operating loss of EUR826 million in the first half. It recently raised its full-year guidance. Still, the company only expects to break even on an operating basis for the full year.
Mitsubishi Motors suffered an operating loss of Y2.9 billion in the July-September quarter. While it expects an operating profit of Y30 billion for the full fiscal year through March, analysts warn it will be hard to meet this projection due to the yen's recent surge to a 14-year high against the dollar. A stronger yen slashes profits earned abroad when translated into yen and makes vehicles built in Japan more expensive overseas.
Like many of its peers, the French company already has a range of targeted industrial partnerships with auto producers in various parts of the world. But the projected tie with Mitsubishi Motors could echo the long-standing links with France's Renault SA and Nissan Motor Co. Renault controls Nissan with a 44% stake, while the Japanese company owns 15% of its partner, and Carlos Ghosn is the senior executive at both companies.
Analysts say Renault's aggressive push to introduce electric cars with Nissan may be a catalyst prompting Peugeot to look to forge a wider partnership with Mitsubishi Motors, which became the world's first mass-producer of electric cars this year.
Renault and Nissan together plan to launch electric cars over the next few years worldwide to take an early lead in the fledgling electric car market by making their vehicles more affordable.
"Peugeot is watching Renault ... If more hybrids and electric cars are coming in Peugeot won't be able to compete enough with only diesel-powered models," Koji Endo, independent research firm Advanced Research Japan, said.
Peugeot-Citron's Chief Executive Philippe Varin indicated recently that the French company's controlling Peugeot family are being more open-minded about an alliance with another automotive group, provided that it creates value for Peugeot-Citroen shareholders and doesn't impinge on its independence. Any deal would also need the backing of group companies Mitsubishi Corp. and Mitsubishi Heavy Industries which have respective stakes of 14% and 15.6% in the Japanese auto maker.
On the Tokyo Stock Exchange, shares of Mitsubishi Motors ended up 13% at Y135 after a lengthy trading suspension earlier in the day pending comment from the company. At the closing price, the company's market capitalization was just Y748 billion.
News of the talks lifted other car makers. Toyota Motor Corp.'s (7203.TO) shares soared 5.6% to Y3,760 and Mazda Motor Corp. (7261.TO) jumped 6.7% to Y207.
After opening up 2.9%, Peugeot shares lost steam in early trading Thursday. Even if the new alliance benefits the French car maker, it won't "bring game-changing scale, nor industry-leading technology," given the Japanese car maker's relatively small sales volume of about 1.0 million vehicles a year compared with about 3 million vehicles at Peugeot, Credit Suisse wrote in a report.
TOKYO (Dow Jones)--Mitsubishi Motors Corp. (7211.TO) and PSA Peugeot-Citroen (UG.FR) said Thursday they are in talks over a capital tie-up that could see the French auto maker take a significant stake in the Japanese company as an industry-wide slowdown and the need to invest in green car technology fuel consolidation pressures.
While Mitsubishi Motors said the tie-up was just one of a range of options it is discussing with Peugeot-Citroen, shares in Japan's sixth-biggest auto maker by sales surged as much as 23% during the day as investors relished the prospect of a deal that could help Mitsubishi Motors both develop electric vehicle technology and secure funds it may need to pay dividends for preferred shares.
"We have been talking about whether we can have a deeper relationship, and a capital tie-up is one among many options," said a Mitsubishi Motors spokesman, declining to comment on the scale or value of any potential deal.
PSA Peugeot Citroen later said separately that "it has started discussions with (Mitsubishi Motors) concerning the possibility of extending their relationship which could lead to a strategic partnership."
The Nikkei reported earlier Thursday that Peugeot-Citroen, Europe's second-biggest auto maker by sales, could buy a stake of 30% to 50% in Mitsubishi Motors for up to Y300 billion in a private placement of new shares, less than half of the French company's market capitalization of EUR5.76 billion, or about Y760 billion, based on its share closing price Wednesday.
Citing an executive close the matter, the paper also said the Mitsubishi group would be open to Peugeot Citroen taking a majority stake in Mitsubishi Motors.
Analysts say the potential capital alliance would allow Peugeot-Citroen to save time in obtaining future key green technologies by using the Japanese firm's well-developed systems for electric cars. It could also make a foray into the U.S. and some growing Asian markets through Mitsubishi's sales networks in those regions.
For Mitsubishi Motors, the potential deal would help it overcome a major challenge. The company is obliged to pay a dividend worth Y20 billion at the end of March for preferred shares that it began issuing five years ago to Mitsubishi Heavy Industries Ltd., Mitsubishi Corp., Bank of Tokyo-Mitsubishi UFJ and other Mitsubishi group firms as part of its previous restructuring plan.
The Japanese car maker would also be able to share the hefty cost of developing advanced electric cars with Peugeot and to reduce the production costs of these vehicles by supplying them to Peugeot.
The talks between the two firms could raise expectations that more deals might be coming, following speculation earlier this year that Suzuki Motor Corp. was in talks with Volkswagen AG over a possible tie-up.
The two auto makers have already struck partnership deals that include Mitsubishi supplying its i-MiEV electric city car and its Outlander sports utility vehicle to Peugeot-Citroen. They also plan to jointly produce SUVs in Russia.
The talks come as global auto makers, only now showing signs of limping out of a bruising slowdown brought on by the economic slowdown, are shifting their marketing focus to emerging markets and ramping up investments to develop fuel-efficient, low-emission cars to meet stricter emission regulations by using the latest technology.
However, entering these markets and developing these technologies is proving to be a costly challenge for auto makers as they struggle with losses and sharp drops in profits.
Peugeot-Citroen reported an operating loss of EUR826 million in the first half. It recently raised its full-year guidance. Still, the company only expects to break even on an operating basis for the full year.
Mitsubishi Motors suffered an operating loss of Y2.9 billion in the July-September quarter. While it expects an operating profit of Y30 billion for the full fiscal year through March, analysts warn it will be hard to meet this projection due to the yen's recent surge to a 14-year high against the dollar. A stronger yen slashes profits earned abroad when translated into yen and makes vehicles built in Japan more expensive overseas.
Like many of its peers, the French company already has a range of targeted industrial partnerships with auto producers in various parts of the world. But the projected tie with Mitsubishi Motors could echo the long-standing links with France's Renault SA and Nissan Motor Co. Renault controls Nissan with a 44% stake, while the Japanese company owns 15% of its partner, and Carlos Ghosn is the senior executive at both companies.
Analysts say Renault's aggressive push to introduce electric cars with Nissan may be a catalyst prompting Peugeot to look to forge a wider partnership with Mitsubishi Motors, which became the world's first mass-producer of electric cars this year.
Renault and Nissan together plan to launch electric cars over the next few years worldwide to take an early lead in the fledgling electric car market by making their vehicles more affordable.
"Peugeot is watching Renault ... If more hybrids and electric cars are coming in Peugeot won't be able to compete enough with only diesel-powered models," Koji Endo, independent research firm Advanced Research Japan, said.
Peugeot-Citron's Chief Executive Philippe Varin indicated recently that the French company's controlling Peugeot family are being more open-minded about an alliance with another automotive group, provided that it creates value for Peugeot-Citroen shareholders and doesn't impinge on its independence. Any deal would also need the backing of group companies Mitsubishi Corp. and Mitsubishi Heavy Industries which have respective stakes of 14% and 15.6% in the Japanese auto maker.
On the Tokyo Stock Exchange, shares of Mitsubishi Motors ended up 13% at Y135 after a lengthy trading suspension earlier in the day pending comment from the company. At the closing price, the company's market capitalization was just Y748 billion.
News of the talks lifted other car makers. Toyota Motor Corp.'s (7203.TO) shares soared 5.6% to Y3,760 and Mazda Motor Corp. (7261.TO) jumped 6.7% to Y207.
After opening up 2.9%, Peugeot shares lost steam in early trading Thursday. Even if the new alliance benefits the French car maker, it won't "bring game-changing scale, nor industry-leading technology," given the Japanese car maker's relatively small sales volume of about 1.0 million vehicles a year compared with about 3 million vehicles at Peugeot, Credit Suisse wrote in a report.
Imark
Forumer storico
con lo yen alle stelle questi si comprano la mitsubishi??
Magari fanno un pagamento in equity oppure misto: parte in equity e parte in cash... certo che se i soldi degli aiuti di stato francesi fossero utilizzati per comprarsi un pezzo di Mitsubishi...
mago gambamerlo
Xx Phuket xX
Quindi 2033 dovrebbe stornare ancora un po' ?
Magari fanno un pagamento in equity oppure misto: parte in equity e parte in cash... certo che se i soldi degli aiuti di stato francesi fossero utilizzati per comprarsi un pezzo di Mitsubishi...
troppidebiti
Forumer storico
su repubblica c' era un articolo che paragonava peugeot e mitsubishi
peugeot 220000 dipendenti!!!
mitsu 30000!
peugeot 220000 dipendenti!!!
mitsu 30000!
lorenzo63
Age quod Agis
Mitsubishi ha 33,200 dip fissi e 12,700 collaborazioni non cons. (Rapporto di 3/1 ergo difficilmente tagliabile)su repubblica c' era un articolo che paragonava peugeot e mitsubishi
peugeot 220000 dipendenti!!!
mitsu 30000!