Groupe PSA and FCA agree to merge
18 Dezembro 2019 - 03:45AM
Groupe PSA and FCA agree to
merge
New entity will have the leadership,
resources and scale to be at the forefront of a new era of
sustainable mobility
- Combines companies’ extensive and growing capabilities
to address the challenge of shaping the new era of sustainable
mobility
- Combined company will be
the 4th largest global OEM by volume and 3rd largest by revenue
with annual sales of 8.7 million units and combined revenues of
nearly €170 billion1
- Creates a diversified business with among the highest
margins in its core markets of Europe, North America and Latin
America and the opportunity to reshape the strategy in other
regions
- Merger will deliver approximately €3.7 billion
estimated annual run-rate synergies with no plant closures
resulting from the transaction – synergies are expected to be net
cash flow positive from year 1
- Strong combined balance sheet and high level of
liquidity provide financial flexibility with an investment grade
credit rating expected
- Combined company will leverage investment efficiency
across a larger scale to develop innovative mobility solutions and
cutting edge technologies in new energy vehicles, autonomous
driving and connectivity
- Broad portfolio of well-established iconic brands
offering best-in-class products covering key vehicle market
segments and delivering higher customer satisfaction
- Excellent working relationship between the two
management teams, which share successful track records in
turnarounds, value creation and successful OEM
combinations
- Strong governance structure to underpin combined
company performance with John Elkann as Group Chairman and Carlos
Tavares as Group CEO, with a majority of independent
directors2
- Strong support of long-term shareholders (EXOR N.V.,
Peugeot Family Group, Bpifrance) who will be represented on the
Board
1Represents FCA Net Revenues, excluding Magneti Marelli, and
Groupe PSA Revenue excluding Faurecia Revenue to Third Parties
2 In compliance with the Dutch corporate governance code
- Groupe PSA and FCA agree to merge
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