ZCZC
BCN-15
ITALY-FRANCE-US-AUTOMOBILE-MERGER-RENAULT-FIAT
Fiat Chrysler says has presented plan for merger with Renault
MILAN, May 27, 2019 (BSS/AFP) – Italian-US auto giant Fiat Chrysler said
it presented a merger proposal to France’s Renault on Monday that would
create “a preeminent global automotive group”.
Fiat Chrysler “has today delivered a non-binding letter to the Board of
Groupe Renault proposing a combination of their respective businesses as a
50/50 merger”, it said in a statement.
The board of Renault said it would meet on Monday to discuss the offer.
BSS/AFP/HR/1225