Automotive industry French government blamed as €33bn deal to create world’s third largest carmaker stalls A planned €33bn merger between Renault and Fiat Chrysler has collapsed. Photograph: Eric Gaillard/Reuters The proposed €33bn merger of Fiat Chrysler and Renault has collapsed after an intervention from the French government, Renault’s biggest shareholder. Fiat Chrysler, an Italian-American company,… Continue reading Renault-Fiat Chrysler merger collapses
Tag: Renault
France hopes “door not closed” on FCA/Renault deal – French budget minister
PARIS, June 6 (Reuters) – French budget minister Gerald Darmanin said he hoped the door had “not closed” on the possibility of a merger between Fiat Chrysler (FCA) and Renault and added France would be happy to re-examine any new proposal from Fiat.
“Talks could resume at some time in the future,” Darmanin told FranceInfo radio on Thursday.
Earlier on Thursday, Fiat Chrysler said it had abandoned its $35 billion merger offer for Renault, blaming French politics for scuttling what would have been a landmark deal to create the world's third-biggest automaker.
The New Renault KOLEOS: greater style and comfort for Groupe Renault’s large SUV
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UPDATE 1-France engaged constructively in failed FCA-Renault talks -Le Maire
(Adds detail, background) PARIS, June 6 (Reuters) – France’s finance minister said on Thursday following the collapse of merger talks between Fiat Chrysler (FCA) and Renault that the government had engaged constructively but failed to win the support of Renault’s Japanese partner, Nissan. “An agreement had been reached on three of the four conditions. What… Continue reading UPDATE 1-France engaged constructively in failed FCA-Renault talks -Le Maire
Toyota, Subaru team up to develop electric SUV in battle against costs
An employee walks past Toyota logo at Rolf, an automotive dealer in Moscow, Russia April 12, 2019. REUTERS/Maxim Shemetov TOKYO (Reuters) – Toyota Motor Corp and Subaru Corp on Thursday said they plan to jointly develop a battery-electric sport-utility vehicle (SUV) on a platform produced together as they seek to split the cost of producing… Continue reading Toyota, Subaru team up to develop electric SUV in battle against costs
Fiat Chrysler withdraws bid for Renault
Fiat Chrysler has withdrawn its merger proposal for French carmaker Renault, the Italian-American firm has said. The announcement followed a failed attempt by Renault board members to reach a decision on the offer. Renault said it had been unable to reach agreement because French government representatives had requested a postponement. The French government is the… Continue reading Fiat Chrysler withdraws bid for Renault
The Fiat Chrysler-Renault merger is dead over suboptimal ‘political conditions’
A proposed merger between Fiat Chrysler-Renault, which would have created the third largest global automaker, is off. Fiat Chrysler Automobiles withdrew its offer, The Wall Street Journal reported. FCA confirmed to TechCrunch that it has withdrawn its offer, largely due to political conditions. “FCA remains firmly convinced of the compelling, transformational rationale of a proposal… Continue reading The Fiat Chrysler-Renault merger is dead over suboptimal ‘political conditions’
FCA Withdraws Merger Proposal to Groupe Renault
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UPDATE 1-Fiat Chrysler withdraws merger offer for Renault
FILE PHOTO: The logos of Renault and Fiat carmakers are seen in Nice, France, June 3, 2019. REUTERS/Eric Gaillard PARIS (Reuters) – Fiat Chrysler said on Wednesday it was withdrawing its $35 billion merger offer for Renault, calling off what would have been a landmark deal to create the world’s third-biggest automaker. A source close… Continue reading UPDATE 1-Fiat Chrysler withdraws merger offer for Renault
FCA, France reach tentative agreement on Renault merger -sources
FILE PHOTO: The logos of Renault and Fiat carmakers are seen in Nice, France, June 3, 2019. REUTERS/Eric Gaillard PARIS/MILAN (Reuters) – Fiat Chrysler has reached a tentative agreement with France on the terms of its proposed merger with Renault, two sources told Reuters, as the French carmaker’s board met to consider the bid late… Continue reading FCA, France reach tentative agreement on Renault merger -sources