Fiat Chrysler and PSA Group ink 50:50 merger deal

Fiat Chrysler and PSA Group ink 50:50 merger deal

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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Anthony Lim

Anthony Lim believes that nothing is better than a good smoke and a car with character, with good handling aspects being top of the prize heap. Having spent more than a decade and a half with an English tabloid daily never being able to grasp the meaning of brevity or being succinct, he wags his tail furiously at the idea of waffling - in greater detail - about cars and all their intrinsic peculiarities here.

 

Comments

  • Stanley Sinnapa on Dec 19, 2019 at 9:47 am

    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.

    Like or Dislike: Thumb up 1 Thumb down 2
    • Optimus on Dec 19, 2019 at 9:57 pm

      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?

      Like or Dislike: Thumb up 3 Thumb down 2
  • Stanley Sinnapa on Dec 19, 2019 at 9:49 am

    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.

    Like or Dislike: Thumb up 0 Thumb down 11
    • Vader on Dec 19, 2019 at 10:43 am

      So right brah. Our local proton alwiz bodosombong , thot we kepandaian semesta. Gearbox proton saga orso pinjam from kia picanto.

      Like or Dislike: Thumb up 4 Thumb down 0
    • Luckily P1 din merge with VW or they wud get sullied with dieselgate scandal. Cukurrrr…..

      Like or Dislike: Thumb up 5 Thumb down 2
  • Muzaffar Shah on Dec 19, 2019 at 10:08 am

    Di negara Barat tak ada NEP, NAP dan Affirmative Polisi. Senang nak gabung syarikat

    Like or Dislike: Thumb up 2 Thumb down 8
    • Ahmadjr on Dec 19, 2019 at 12:41 pm

      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

      Like or Dislike: Thumb up 5 Thumb down 0
    • Celup King on Dec 19, 2019 at 5:13 pm

      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.

      Like or Dislike: Thumb up 3 Thumb down 0
  • Ahmad Hassan on Dec 19, 2019 at 10:10 am

    Malaysia cannot because 30% of the company must be Bumi shareholders

    Like or Dislike: Thumb up 6 Thumb down 8
    • Lets See on Dec 19, 2019 at 4:42 pm

      Tan Chong milik siapa?
      BERMAZ milik siapa?

      Such lasis talkin.

      Like or Dislike: Thumb up 5 Thumb down 0
  • sarawak sarawak on Dec 19, 2019 at 11:54 am

    A merger of world junk car brands.

    Like or Dislike: Thumb up 1 Thumb down 2
  • sarawak sarawak on Dec 19, 2019 at 11:55 am

    Best to rename to Junk car alliance.

    Like or Dislike: Thumb up 2 Thumb down 2
    • Li Peng on Dec 20, 2019 at 8:45 am

      At least they sell 10 times more cars in Europe than Toyota and Honda combined.

      Like or Dislike: Thumb up 2 Thumb down 0
 

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