PSA Peugeot-Citroën Sells its Head Office in Paris to Raise Cash

With the economic recession deepening in Europe, things aren't getting better for PSA Peugeot Citroën, which decided to sell its Parisian headquarters to raise cash and lower its mounting debts.

The French group signed an agreement to sell the building that staffs some 2,000 people to Ivanhoe Cambridge, a subsidiary of the Caisse de dépôt et placement du Québec, for €245.5 million (US$325 million).

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