Reuters
- Fiat Chrysler and Peugeot's owner PSA said on Thursday they would join forces.
- The pact is a 50-50 share swap that will create the world's fourth-largest automaker.
- Chairman John Elkann will chair the combined group.
- Read Business Insider for more stories.
Fiat Chrysler and Peugeot's owner PSA said on Thursday they would join forces through a 50-50 share swap to create the world's fourth-largest automaker.
The boards of the two groups have mandated their respective teams to finalize discussions and reach a binding memorandum of understanding in the coming weeks, the two automakers said in a joint statement.
See the rest of the story at Business Insider
See Also:
- Southwest Airlines had a great quarter despite a $210 million hit from Boeing's grounded 737 Max plane
- Engine failures in the Airbus A220 may have been caused by a software issue
- GM posts a lower quarterly profit but beats Wall Street estimates thanks to strong US pickup and SUV sales
from Business Insider https://ift.tt/2qZQOD3
No comments:
Post a Comment