The merger of FCA and PSA is in full swing

The merger of FCA and PSA is in full swing

June 26, 2020 0 By autotimesnews

It is reported by the CEO of the concern PSA Carlos Tavares.

The merger of the FCA and PSA concerns is in full swing and is proceeding according to the schedule approved earlier. The transaction amount is approximately $ 50 billion and will bring a synergistic effect of about $ 4.2 billion. According to the CEO of Peugeot / Citroen, this deal has become even more important in the context of overcoming the crisis caused by the coronavirus pandemic.

As global car sales plummeted, it makes sense to start saving. For this reason, a merger will be the best solution to overcome the crisis. The merger should be completed no later than the first quarter of 2021.

Currently, the antitrust authorities of the European Union have initiated a four-month verification of the transaction, saying that it could harm manufacturers in 14 EU countries. Moreover, the deal has already been approved in the United States, Japan and China.