Peugeot clinches sale-and-leaseback in the UK

French automotive manufacturer PSA Peugeot Citroën has signed an agreement to sell and leaseback a portfolio of distribution assets in the UK to CBRE Global Investors for £30 mln (EUR 37 mln).

PSA Peugeot Citroën, through its UK subsidiaries Peugeot Motor Company and Citroën UK, has divested nine of its core UK real estate assets, to CBRE Global Investors on behalf of five clients. The portfolio is made up of car showrooms strategically located throughout the UK. The lease duration is approximately 15 years.

This deal is part of the manufacturer's programme of real estate assets disposals announced last February.

Societe Generale Corporate & Investment Banking and Wragge & Co acted as advisors to PSA Peugeot Citroën. Osborne Clarke and Griffiths Eccles advised CBRE Global Investors.