30 Oct 19

FCA, PSA agree to merger terms

Fiat Chrysler Automobiles NV (FCA) and Peugeot maker PSA Groupe of France have agreed to merger terms that would create the world’s fourth largest automaker.

Following separate statements on Tuesday (Oct 29) by each company confirming they were in talks, the firms have now agreed to move forward with the merger and are waiting for final approvals from both of their boards, the Wall Street Journal reported.

The merger between the Italian-American and French groups would create an automaker giant able to better position itself to tackle a host of costly technological and regulatory challenges in the auto industry and, according to sources familiar with the transaction, would create a company with a stock market value of at least US$47 billion.

Authored by: Daniel Bland