Fiat Chrysler and Peugeot owner PSA plan a 50-50 share swap to create the world’s fourth-largest automaker
) plan to join forces in a 50-50 share merger to create the world’s fourth-largest automaker, seeking scale to cope with costly new technologies and slowing global demand.
However, the PSA-FCA deal could still face close regulatory scrutiny, while governments in Rome, Paris and unions are all likely to be wary about potential job losses from a combined workforce of around 400,000. They aim to make 3.7 billion euros of savings without plant closures, and achieve around 80% within four years, at a one-off cost of 2.8 billion euros.
“It gives us critical size to face the dual challenges of autonomous vehicles and electric cars,” Le Maire told reporters.Paris, which has a 12% stake in PSA, was blamed for the collapse of the FCA-Renault talks by urging Renault to focus on its existing alliance with Japan’s Nissan. The French government also owns 15% of Renault.
The former Renault executive has emerged as one of the leading figures in the auto industry following the death last year of FCA’s former CEO Sergio Marchionne and the arrest of former Renault-Nissan boss Carlos Ghosn. Citi analysts said the cash payout for FCA shareholders contrasted with the Faurecia shares, worth about 2.7 billion euros at Wednesday’s close, being offered to PSA shareholders, saying the latter were “being asked to remain patient.”
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
WSJ News Exclusive | Fiat Chrysler, Peugeot Owner PSA in Talks to CombineFiat Chrysler and Peugeot maker PSA Group of France are in talks over a potential combination, according to people familiar with the matter, a deal that could create a $50 billion trans-Atlantic auto giant.
Lire la suite »
Fiat Chrysler, Peugeot owner PSA in talks to combine: sourceFiat Chrysler and Peugeot owner PSA are in talks to combine in a deal that could...
Lire la suite »
Fiat Chrysler reportedly in talks to merge with Peugeot ownerFiat Chrysler is in talks with French automaker PSA Group, the owner of Peugeot and Citroen cars, over a potential combination, according a report in the Wall Street Journal
Lire la suite »
WSJ News Exclusive | Fiat Chrysler and Peugeot Owner PSA Agree to MergeFiat Chrysler and Peugeot’s owner agreed to merge, said people familiar with the deal, which would create the world’s fourth-largest car maker.
Lire la suite »
Fiat Chrysler looking to merge with Peugeot after failed talks with RenaultThe two potential partners need to fill gaps in their portfolios — and both need help in China, the world’s largest automotive market.
Lire la suite »
Fiat Chrysler and Peugeot in talks over potential $50 billion tie-upFiat-Chrysler and Peugeot owner PSA have confirmed they are in talks over a tie-up that would create one of the world's biggest automakers For more business news, follow ReutersBiz
Lire la suite »