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Peugeot in talks for merger with Fiat Chrysler

30/10/2019
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Peugeot S.A. (PSA Group) - the owner of major automotive brands including Peugeot, Citroën, Jeep, Opel and Vauxhall - have confirmed that they are holding merger talks with Fiat Chrysler.

A PSA and Fiat Chrysler merger will form the third largest global car company

If a deal is agreed, the business would become the world’s third largest car company - trailing only Volkswagen AG and Toyota Motor Corp - with a total market value of nearly $50 billion (£39.9 billion).

The merger would allow the companies to better tackle the growing technological and regulatory challenges that face the industry.

It’s thought that PSA chief executive Carlos Tavares would lead the new group, with Fiat Chrysler’s John Elkann remaining as chairman.

A statement from PSA read: 

“Following recent reports on a possible business combination between Groupe PSA and FCA Group, Groupe PSA confirms there are ongoing discussions aimed at creating one of the world’s leading automotive groups.”

FCA later released their own statement, saying: 

“Following recent reports on a possible business combination between Groupe PSA and FCA Group, Fiat Chrysler Automobiles NV confirms there are ongoing discussions aimed at creating one of the world’s leading mobility groups.

“FCA has nothing further to add at this time.”

The two firms are reported to have been in talks for several months, but have only just now confirmed them publicly. PSA have been seeking a merger with another automotive major for some time, having previously attempted talks with Renault earlier in the year. 

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Peugeot in talks for merger with Fiat Chrysler - Time to read 2 min
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