FCA and PSA will reconsider merger deal due to coronavirus

FCA and PSA will reconsider merger deal due to coronavirus

September 15, 2020 0 By autotimesnews

Writes about this portal Carscoops.

According to the published data, the concerns FCA and PSA have revised the terms of the merger due to the coronavirus pandemic. The merger will continue to form a firm called Stellantis, with the parent brands equally divided.

However, according to the amendments, FCA will pay 2.9 billion euros to its shareholders before closing. At the same time, PSA will refuse to divest its 46% stake in component supplier Faurecia, which will be distributed among all Stellantis shareholders.

In view of the latter, the shareholders of FCA and PSA will receive 23% of Faurecia shares after the merger. In addition, the issue of distribution of $ 500 million between the shareholders of both concerns is being considered. The rest of the terms of the deal, approved in December last year, will remain unchanged.