FCA PSA Merger On Its Way
Reports Regarding a Potential FCA PSA Strategic Transaction
October 30, 2019 , London, UK - Following recent reports on a possible business combination between Groupe PSA and FCA Group, Fiat Chrysler Automobiles N.V. (“FCA”, NYSE: FCAU /MTA: FCA), confirms there are ongoing discussions aimed at creating one of the world‘s leading mobility Groups. FCA has nothing further to add at this time.
PARIS October 30, 2019; Sarah White and Gwenaelle Barzic reporting for Reuters wrote that the supervisory board of Peugeot maker PSA agreed on Wednesday to give Chief Executive Carlos Tavares the go-ahead to pursue a merger with Italy's Fiat Chrysler , a source familiar with the matter said.
Under a proposed scheme discussed at a PSA meeting, the combined group would have an 11-person board, with six members coming from Peugeot including Tavares, and five from FCA including Chairman John Elkann, two other sources said earlier.
Tavares was the driver of the FCA approach, three sources familiar with the matter told Reuters.
(Editing by Chris Reese)
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