Peugeot Family Firm Gains €131 Million From SpaceX Stake

Bloomberg··FRUS·Read original
2▲1 ▼1Impact / 5
Summary · why it matters

Peugeot Invest, the investment firm of the billionaire Peugeot family, got a €131 million boost from its indirect holding in SpaceX through Valor Equity Partners funds, according to first-half results released Thursday. That gain partially offset a deep slump in the value of its stake in automaker Stellantis NV, whose 47% stock-price decline would otherwise have nearly erased returns over the period. Chief Executive Officer Jean-Charles Douin said the portfolio's good performance was driven by technology assets, particularly SpaceX and Doctrine, and that Peugeot Invest is in talks to sell its holding in the Doctrine legal platform. The firm this week announced the $175 million acquisition of a minority stake in Mérieux NutriSciences as part of a more active management of its portfolio, and Douin said the sale of its stake in Immobiliere Dassault ends its foray into property. Asked about the Stellantis holding, Douin said Peugeot Invest remains aligned with the carmaker's management and turnaround plan despite its disappointing performance, and that at this stage there is no project to decouple or otherwise restructure that legacy investment.

Impact on assets 4

Financials▲
Peugeot Invest SA
PEUG
▲ PositiveCapitalrelevance

Peugeot Invest gained €131 million from its indirect SpaceX holding via Valor Equity Partners funds, boosting first-half results.

Electrification & Mobility▼
Stellantis NV
STLA
▼ NegativeCapitalrelevance

Peugeot Invest's stake in Stellantis suffered a 47% stock-price decline that weighed on its portfolio returns.

Real Estate▲
Space Economy▲

Off-coverage companies 3

Doctrinei
Private± Mixedrelevance

Mérieux NutriSciencesi
Private± Mixedrelevance

Valor Equity Partnersi
Private± Mixedrelevance