PARIS, Dec 18, 2019 (BSS/AFP) – French carmaker PSA and US-Italian rival
Fiat Chrysler have signed an agreement to create the world’s fourth largest
automaker, they said in a joint statement on Wednesday.
“Fiat Chrysler Automobiles and Peugeot SA (Groupe PSA) have today signed a
binding combination agreement providing for a 50/50 merger of their
businesses to create the fourth largest global automotive original equipment
manufacturer by volume and third largest by revenue,” the statement said,
adding that the tie-up would not involve any plant closures.