Fiat Chrysler And Renault Combine
Fiat Chrysler Automobiles proposes a formal merger to French Renault. The details of the possible merger will be clear today.
Consolidation in the automobile sector is continuing. The prospect of a new merger seems to be taking place between Fiat Crysler and French Renault. If the merger takes place, the world’s third largest global automotive manufacturer will be created. The eyes are at the present meeting of the Renault executive board.
Fiat Chrysler and Renault combine
According to the French press, Renault Chairman Jean-Dominique Senard, the work prepared for the merger of FCA and Renault on Friday, French Finance Minister Bruna Le Maire’e forwarded. 15 percent of Renault belongs to the French state.
The shares of the proposed partnership will be shared equally between Fiat Chrysler and Groupe Reanult in a German parent company. Prior to the completion of the merger, a total of 2.5 billion euros of dividends will be distributed to Fiat Crysler shareholders so that they will not be affected by the discrepancies in the stock markets.
The FCA statement has the following information:
“Fiat Chrysler has submitted a merger proposal to the Renault Group, with 50 percent share of the FCA, 50 percent share of Renault, a balanced management structure, and the majority of the board will be independent. As a result of the merger with Renault, no factory is expected to close, and the partnership will create more than 5 billion euros of synergy in addition to those already created by the Renault-Nissan-Mitsubishi alliance. Will be traded in New York “
Renault also confirmed that they are conducting merger talks with Fiat (FCA).
Turkey also expected the two carmakers will go to the releases today a wide-ranging cooperation with factories.