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Monday, 12 November 2018

Court begins hearing EUR 150 mn lawsuit against Peugeot

Court begins hearing EUR 150 mn lawsuit against Peugeot: A lawsuit brought by Arabia Investments, Development and Financial Investment Holding Company (AIND) subsidiary Cairo For Development and Cars Manufacturing (CDCM) against Peugeot Citroen for unexpectedly ending their 41 year-old partnership began in a Cairo court on Sunday. The plaintiffs are seeking damages of EUR 150 mn. The Peugeot-Citroen arm of Groupe PSA had selected a consortium of Mansour Group and Dubai-based Scope Investment to be its licensed distributor of Peugeot vehicles in Egypt in November of last year.

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