Peugeot: agreement on merger project with FCA
(CercleFinance.com) - Peugeot's supervisory board and Fiat Chrysler Automobiles (FCA) board of directors announce that they have unanimously agreed to work towards a 50/50 merger of the two groups' businesses, following intensive discussions between directors.
This merger would occur through a merger of both carmakers under a Dutch parent company that is listed in Paris, Milan and New York. Governance would be balanced between shareholders and the majority of directors would be independent.
Prior to the completion of this deal, FCA would distribute to its shareholders an extraordinary dividend of 5.5 billion euros, as well as its stake in Comau. In addition, Peugeot would distribute its 46% stake in Faurecia to its shareholders.
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This merger would occur through a merger of both carmakers under a Dutch parent company that is listed in Paris, Milan and New York. Governance would be balanced between shareholders and the majority of directors would be independent.
Prior to the completion of this deal, FCA would distribute to its shareholders an extraordinary dividend of 5.5 billion euros, as well as its stake in Comau. In addition, Peugeot would distribute its 46% stake in Faurecia to its shareholders.
Copyright (c) 2019 CercleFinance.com. All rights reserved.