Groupe PSA, parent company of Peugeot and Vauxhall, are in merger talks with Fiat Chrysler Automobiles.
If successful, the resultant company would be the world’s fourth largest in terms of overall vehicle sales.
The combined company would be equally-owned by the current shareholders of Groupe Groupe PSA and FCA. FCA’s chairman John Elkann would assume the same role at the new company, and current Groupe PSA Chief Executive Carlos Tavares would be CEO.
The Dutch-registered company would include brands such as Vauxhall who have manufacturing centres in the UK, and according to the announcement it would be achieved without any plant closures resulting from the transaction. If completed, the move would bring the Peugeot, Citroen, DS, Vauxhall, Opel, Fiat, Alfa Romeo, Abarth, Lancia, Maserati, Jeep, Chrysler, and Dodge brands all under one roof.
The boards of both Groupe PSA and FCA have unanimously agreed to pursue the merger, with a binding Memorandum of Understanding expected to follow in the next few weeks.
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