Sat, Nov 28, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Egerton, Odey, DE Shaw, JP Morgan bet on Peugeot’s downfall

Thursday, July 19, 2012

Benedicte Gravrand, Opalesque Geneva: PSA Peugeot Citroen, a large French carmaker, saw its shares drop by 54 cents, or 7.7%, to Eur6.48 in Paris trading late last week, according to Bloomberg. The stock had plummeted 76% in the last year, valuing the firm at Eur2.3bn ($2.8bn), the report said. Furthermore, Moody’s, a rating agency, placed Peugeot on review after the carmaker announced it would close one of its factories and cut 14,000 jobs. The French government said it does not accept the plan as it is. Delegates are meeting ministers. No decision of governmental support has been decided yet., a French newswire, reported on Monday that British hedge funds Egerton Capital and Odey Asset Management had interest in the carmaker’s stock. Egerton had a short position of 0.68% of Peugeot's capital as of 12th July; and Odey was credited a net short position of 1.91% on June 25th.

According to details published by the Autorité des Marchés Financiers (AMF), the French financial supervisor, Egerton increased its position to 0.81% on July 16th, further ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  4. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega

  5. More institutional investors invest in CTAs compared to last year despite dissatisfaction with performance[more]

    Benedicte Gravrand, Opalesque Geneva: "Despite a strong start to 2015 for CTAs in Q1, commodity market conditions have made return generation difficult for fund managers over much of the rest of the year to date," says Preqin’s November