Fiat Chrysler Automobiles (FCA) and France’s PSA Group, the maker of Peugeot and Citroen cars, have signed a binding combination agreement, finalising a merger deal that was first announced at the end of October. The automakers said that they expect the transaction to be completed within 12 to 15 months, subject to shareholder approval and regulatory clearances.
The US$50 billion (RM207.8 billion) 50:50 tie-up will create the world’s fourth-largest automaker, which will have a combined sales volume of 8.7 million vehicles and a revenue of nearly €170 billion (RM783 billion).
The combined entity will be led by PSA CEO Carlos Tavares, who will be appointed as CEO on an initial mandate of five years, while FCA chairman John Elkann will assume the role of chairman.
The two automakers have a total of 14 brands between them, five from PSA and nine from FCA, including Peugeot, Citroën, Opel, Alfa Romeo, Maserati and Jeep, but Tavares has previously said that none will be sacrificed in the new setup.
The merged group will have a combined workforce of around 400,000, and while both companies said that there would be no plant closures as a result of the deal, reports speculate that some redundancies are expected.
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Last time PSA ajak Proton to combine but our fellow did not want to combine because, as usual, they takut lose control
Now see where is PSA. 4th largest Automobile company in the world.
Pity we were so aksi and like to lagak.
How much does PSA sell in Malaysia? Worse than Mercedes and Volvo Cars. Who owns Mercedes & Volvo Cars? The 2nd world’s biggest economy. So should we follow 4th largest automobile company or 2nd largest economy in the world?
Mercedes is largely owned by the state of Qatar.
Largest Automobile company in the world, VW wanted to merge with Proton but Proton told them to berambus.
This was 10 years ago. For 10 years, we could have so many good cars like the Proton Golf and Proton Tiguan. Also could have saved so much of money of losses by Proton the past 10 years.
So right brah. Our local proton alwiz bodosombong , thot we kepandaian semesta. Gearbox proton saga orso pinjam from kia picanto.
Luckily P1 din merge with VW or they wud get sullied with dieselgate scandal. Cukurrrr…..
Di negara Barat tak ada NEP, NAP dan Affirmative Polisi. Senang nak gabung syarikat
Bodohnya newbie cybertrooper ni. Itu polisi zaman atuk yang buat dulu. Sekarang dia dah naik balik lagi lah kereta terbang terus nak dibuatnya. Zaman najib dah elok harga kereta turun tapi specs meningkat ni dah naik balik harga
Proton gabung Geely also very senang. Only that a certain old man become sad and angry then work to remove the person making the gabung possible.
Malaysia cannot because 30% of the company must be Bumi shareholders
Tan Chong milik siapa?
BERMAZ milik siapa?
Such lasis talkin.
A merger of world junk car brands.
Best to rename to Junk car alliance.
At least they sell 10 times more cars in Europe than Toyota and Honda combined.