Peugeot family to hold meeting to discuss the future of their shareholding now it has been reduced.

The Peugeot family plans to hold a meeting in June to work out its differences over the future of its 14.1 percent stake in PSA/Peugeot-Citroen, Les Echos newspaper reported this week. The meeting would mark a year since the family relinquished control of the carmaker, opening up a rift between two senior family members, the newspaper said.

The French government and Dongfeng, PSA’s Chinese partner, now both hold matching 14.1 percent stakes after a deal that injected fresh capital into the business and which was opposed by senior family member Thierry Peugeot. He left the PSA board in July last year.

The report said Thierry Peugeot was also expected to step down from the board of the family holding company FFP at its shareholder meeting in May, but wants to keep a grip on the business, and has built another 0.3 percent stake in the company through a separate holding company, Sapar.

According to the report, some members of the Peugeot family fear that Robert Peugeot, the FFP's representative on the PSA board, wants to reduce the size of the family's holding. They want to see a resolution at the June meeting that would exclude such an option, even though Robert Peugeot said in March that no such move was planned.

The June meeting may also look at a contingency plan in case the government decides to reduce its stake, the newspaper reported.

Secretary of State for Transport visits Rolls Royce

Rolls-Royce Motor Cars welcomed The Rt Hon Patrick McLoughlin MP, Secretary of State for Transport, to the company’s head office and manufacturing plant at Goodwood, West Sussex today. Mr McLoughlin was accompanied by The Rt Hon Nick Herbert, MP for Arundel & South Downs.

Mr McLoughlin was briefed by members of the Rolls-Royce Board of Directors on the company’s recent investments, including a major expansion to the manufacturing plant and the creation of 200 new permanent jobs in the last 12 months. The briefing also included details of the company’s continued success, with a fourth year of record sales in 2013 and development of the company’s worldwide dealer network, currently standing at 120 dealerships.

Mr McLoughlin toured the facility, taking particular interest in the company’s Bespoke operation and the hand craftsmanship demonstrated in the wood and leather shops. He took the opportunity to chat with employees, including a number of current apprentices. Mr McLoughlin was also able to participate in the manufacturing process, installing a Spirit of Ecstasy figurine on the grille of a customer’s car.

Secretary of State for Transport Patrick McLoughlin said, "The Rolls-Royce Motors Cars facility at Goodwood is state of the art, and I was very pleased to have the opportunity to meet the team, tour the production line, and see for myself the incredible range of expertise that goes into producing these iconic British cars." ‎

Torsten Müller-Ötvös, CEO of Rolls-Royce Motor Cars said, “It was a great privilege to welcome the Secretary of State for Transport to the Home of Rolls-Royce and to be able to brief the Minister on the extraordinary success of Rolls-Royce in recent years. We were deeply gratified at the interest shown in our business and for his warm and gracious words.”

On departing Rolls-Royce, Mr McLoughlin left for the Festival of Speed, a short drive from the manufacturing plant. Rolls-Royce is sited on the south-westerly corner of the Goodwood Estate.