PARIS, France: Peugeot Société Anonyme (PSA) Group, the owner of Peugeot, is planning a merger with its US-Italian rival carmaker, Fiat Chrysler.
The estimated combined value of the merger would amount to almost $50 billion in the global market.
A merger of the two groups would bring several brands under one roof including Citroen, Opel, Jeep, Vauxhall and Peugeot.
PSA Chief Executive Carlos Tavares is expected to lead the merged group, while John Elkann, Fiat Chrysler chairman and the head of Italy’s Agnelli industrial dynasty, would retain his designation at the new company.
The shares of Fiat Chrysler have increased by 7.5% on Wall Street.
Fiat Chrysler had previously walked off a merger agreement with another French carmaker, Renault, in June.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription
