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Fiat Chrysler in talks to merge with Peugeot’s owner PSA Group

If successful, the new combined group would be one of the largest in the world, with a current combined market capitalisation of US$49bn

Fiat 500 car
The proposal comes after Fiat Chrysler’s attempt to merge with another French car maker, Renault failed earlier this year 

Fiat Chrysler Automobiles NV (NYSE:FCAU) is in talks to merge with Peugeot’s owner PSA Group, the French car manufacturer confirmed on Wednesday morning in a statement.

If successful, the new combined group would be one of the largest automakers in the world, with a current combined market capitalisation of US$49bn.

According to the Financial Times, PSA’s chief executive would keep his post in the new group, with Fiat Chrysler’s boss John Elkann stepping in as chairman.

The proposal comes after Fiat Chrysler’s attempt to merge with another French carmaker, Renault failed earlier this year after the Italo-American group withdrew from the deal citing unfavourable political conditions in France as the government - Renault’s largest shareholder with 15% stakes - did not support the deal.

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NASDAQ:FCAU
Market: NASDAQ
Market Cap: $28.92 billion
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