Wednesday, February 28, 2024
News FCA, PSA to Ink Deal as Early as Next Month

FCA, PSA to Ink Deal as Early as Next Month

The planned merger to join forces between Fiat Chrysler Automobiles and Groupe PSA could be done by December according to some reports.

Earlier this week, Fiat Chrysler Automobiles and Peugeot Société Autonome shared their plans about joining forces in what would become the 4th largest automaker in the world.

Now, we’re learning that the 50-50 share merger’s final agreement could be signed as early as next month reports Reuters.

FCA, PSA Merger Plans Confirmed

A source familiar with the matter said to the news organization that the two groups were trying to reach an agreement “in the coming weeks”.

When they will merge, the new group will be worth around $50 billion USD. Meanwhile, the revenues of this new company would reach $189 billion USD.

FCA and PSA are also supposedly working hard and hoping “to sign a binding memorandum of understanding in ‘three-four weeks’”, also according to Reuters.

Finally, “this means the final agreement should be signed by early December, or by Christmas at the latest,” said the source to Reuters.

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