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Wed Oct 30, 2019, 06:47 PM

Report: Fiat Chrysler agrees to merger with PSA Groupe (Peugeot's parent) ; US benefit seen

Source: Detroit Free Press

Report: Fiat Chrysler agrees to merger with PSA Groupe; US benefit seen

Eric D. Lawrence, Detroit Free Press Published 3:10 p.m. ET Oct. 30, 2019 | Updated 7:06 p.m. ET Oct. 30, 2019

Fiat Chrysler Automobiles came close to tying up with automaker Renault this year, but it appears another French automaker, PSA Groupe, will be FCA's merger partner instead. PSA is best known in the United States as the manufacturer of Peugeot automobiles.

The Wall Street Journal, citing sources, said the companies are moving forward with a merger, in a deal that would create the world's fourth largest automaker.

Reports that the companies were in talks began Tuesday, and both on Wednesday confirmed the discussions.

The companies issued separate, nearly identical statements, signifying a coordinated messaging strategy, with Italian-American automaker FCA adding that it had no additional comment.

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Read more: https://www.freep.com/story/money/cars/chrysler/2019/10/30/fca-psa-groupe-merger/4100266002/

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