PSA and Fiat Chrysler approve merger, Dongfeng stake reduced

PSA's board approved a binding memorandum of understanding for a $50 billion merger with Fiat Chrysler Automobiles. Dongfeng Motor's stake in the combined entity will be reduced to about 4.5% from its current 12.2% in PSA. FCA's robot unit Comau will remain within the combined group.

“The board of PSA approved a binding memorandum of understanding for a $50 billion tie-up between the two groups.”brecorder.com

• 2 sources
• brecorder.comDongfeng to reduce PSA stake in merger deal with Fiat - Business & Finance - Business RecorderReutersDec 17, 2019
• cnn.comFiat Chrysler and Peugeot owner agree deal to create world’s third largest automaker | CNN BusinessCharles RileyDec 18, 2019

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