Fiat Chrysler Automobiles and Peugeot agree to merge

19 Dec 2019

Fiat Chrysler Automobiles and Peugeot have signed a binding Combination Agreement providing for a 50/50 merger of their businesses to create the fourth-largest global automotive OEM by volume and third-largest by revenue.

The combined company will have annual unit sales of 8,7 million vehicles, with revenues of nearly €170 billion, recurring operating profit of over €11 billion and an operating profit margin of 6,6%, all on a simple aggregated basis of 2018 results.

Carlos Tavares, chairman of the Managing Board of Groupe PSA and Mike Manley, CEO of FCA, signing a binding Combination Agreement.

Source: Source: www.quickpic.co.za

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