PARIS, Feb 8 (Reuters) - French President Nicolas Sarkozy will announce on Monday that the government will lend around 6 billion euros ($7.7 billion) to two carmakers to help them cope with the financial crisis, according to French newspapers.
The credit would be extended on the basis of preferential rates to Renault and PSA Peugeot Citroen, French daily Le Figaro said, without citing any source, on the front page of its Monday edition.
Each of the companies would receive 3 billion euros, daily Les Echos reported, also in its Monday edition.
In exchange, Renault head Carlos Ghosn and PSA chief executive Peter Streiff would commit to keeping all of their production sites in France running and safeguarding jobs, according to Le Figaro.
The French government had said it would pump up to 6 billion euros of aid into the embattled auto industry and stressed that car firms would have to pledge to protect French jobs and scrap bosses' bonuses in return.
($1=.7807 Euro)
(Reporting by Tamora Vidaillet; Editing by Bernard Orr) Keywords: FRANCE AUTOS/AID (tamora.vidaillet@reuters.com ; + 33 6 7170 2271; Reuters Messaging: tamora.vidaillet.reuters.com@reuters.net ) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The credit would be extended on the basis of preferential rates to Renault and PSA Peugeot Citroen, French daily Le Figaro said, without citing any source, on the front page of its Monday edition.
Each of the companies would receive 3 billion euros, daily Les Echos reported, also in its Monday edition.
In exchange, Renault head Carlos Ghosn and PSA chief executive Peter Streiff would commit to keeping all of their production sites in France running and safeguarding jobs, according to Le Figaro.
The French government had said it would pump up to 6 billion euros of aid into the embattled auto industry and stressed that car firms would have to pledge to protect French jobs and scrap bosses' bonuses in return.
($1=.7807 Euro)
(Reporting by Tamora Vidaillet; Editing by Bernard Orr) Keywords: FRANCE AUTOS/AID (tamora.vidaillet@reuters.com ; + 33 6 7170 2271; Reuters Messaging: tamora.vidaillet.reuters.com@reuters.net ) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.