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Business deals

Peugeot maker PSA ready to sell stake in tie-up with China's Changan

Venture started in 2011 has struggled with falling sales

The logo of PSA Peugeot Citroen is seen at the company's plant in Poissy, near Paris, Oct. 31.   © Reuters

PARIS/BEIJING (Reuters) -- Peugeot maker PSA Group is preparing to sell its 50% stake in a joint venture with Chinese partner Chongqing Changan Automotive, a spokesman for the French carmaker said on Thursday.

Changan has already signalled in regulatory filings from early November that it is seeking a buyer for its half of the venture, which builds cars under PSA's DS brand.

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