PSA Board Backs Binding Merger Agreement With Fiat Chrysler
17 Dezembro 2019 - 3:35PM
Dow Jones News
By Nick Kostov and Ben Dummett
The board of Peugeot maker PSA Group has backed a binding merger
agreement with rival Fiat Chrysler Automobiles NV that includes
sweeteners to make the trans-Atlantic tie-up more attractive to
U.S. regulators and company shareholders, according to people
familiar with the discussions.
The PSA board voted Tuesday to sign a memorandum of
understanding with Fiat Chrysler, fixing the financial terms of the
deal and the corporate governance structure of the combined
company, the people said.
The move marks an important step in solidifying a merger that
was announced by the two auto makers in October. The tie-up aims to
create a $50 billion auto giant that would rank among the world's
largest car companies by sales.
Among the new terms added to the deal during discussions over
the past several weeks were an agreement that China's state-run
Dongfeng Motor Co. would sell part of its 12.2% stake in PSA back
to the French car maker and Fiat Chrysler will now keep its Comau
division until the closing of the deal, the people close to the
talks said.
(END) Dow Jones Newswires
December 17, 2019 13:20 ET (18:20 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Stellantis NV (BIT:STLA)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Stellantis NV (BIT:STLA)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024
