Fiat Chrysler and Peugeot maker PSA are pushing ahead with a planned merger wort...
) are pushing ahead with a planned merger worth about $50 billion aimed at creating the world’s No. 4 carmaker.
** The merged group would have 11 board members including Tavares and five nominated by PSA and five by FCA, including labor representatives from each. ** FCA’s robot unit Comau will remain within the combined group rather than being spun off as was originally planned in October. The two groups will then jointly decided how to extract value from Comau.
In that time, the Peugeot family would be allowed to increase its shareholding by up to 2.5% only by acquiring shares from Bpifrance Participations and Dongfeng Motor.
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