Automotive industry Finance minister seeks guarantee no French factories will close before any deal is agreed The French finance minister, Bruno Le Maire, wants the chair of Renault to obtain a guarantee from Fiat for workers in France. Photograph: Benoît Tessier/Reuters France’s finance minister has demanded that no factories in the country shut and that… Continue reading France says planned Renault-Fiat merger must protect jobs
Tag: FCA
Elkann enlists Renault to drive Fiat family fortunes
When John Elkann lost his ally last year with the sudden death of Sergio Marchionne, some questioned whether the softly-spoken scion of the Agnelli clan would be able to emerge from his shadow to ensure Fiat Chrysler’s future.This involved a “very long night … and many grappas” but proved to be a turning point in the fortunes of the Italian company founded by Elkann’s great-great-grandfather Giovanni Agnelli.Marchionne then used GM’s money to fund a turnaround at Fiat.
FCA Group proposes €32.6bn merger with Renault
Fiat Chrysler Automobiles has proposed a €32.6 billion (£28.3bn) all-share merger with Renault to forge a new alliance that could save the Italian carmaker “in excess of €5 billion”. Following the announcement of the proposal yesterday (May 27), shares in Renault, which began Monday with a market value of almost €15 billion, surged 13.8% in early… Continue reading FCA Group proposes €32.6bn merger with Renault
Elkann takes dealmaking mantle in FCA bid for Renault
…the situation in the past two weeks shifted quickly. By Monday FCA unveiled a proposed €32.6bn all-share merger in a deal that would reshape the global automotive industry. Talk about 0 to 60 in three…
France insists any Renault/Fiat deal must protect French jobs: Le Maire
PARIS (Reuters) – France must protect its own interests and jobs in any merger between Renault and Fiat, even though France’s stake in Renault would automatically be diluted, French Finance Minister Bruno Le Maire told RTL radio on Tuesday. FILE PHOTO: John Elkann, Chairman of Fiat Chrysler Automobiles (FCA), attends the presentation of the Science… Continue reading France insists any Renault/Fiat deal must protect French jobs: Le Maire
Fiat Chrysler pitches 50-50 merger with Renault
Fiat Chrysler Automobiles has proposed a 50-50 merger plan with Renault to create the world’s third-largest automaker. FCA shared the proposal on its website, listing a number of key points that could come about from the roughly $35 billion deal. Fiat Chrysler says the combined automaker could sell 8.7 million vehicles a year. The merger… Continue reading Fiat Chrysler pitches 50-50 merger with Renault
Renault to decide next week whether to proceed with FCA merger talks -sources
PARIS, May 27 (Reuters) – Renault board members will meet informally for work sessions within days with a view to a decision early next week on whether to go ahead with Fiat Chrysler merger talks, two sources with knowledge of the matter said. The board is likely to decide next week on whether to sign… Continue reading Renault to decide next week whether to proceed with FCA merger talks -sources
Fiat Chrysler and Renault pursue $35 billion merger to combat car industry upheaval
MILAN/PARIS (Reuters) – Fiat Chrysler pitched a finely balanced merger of equals to Renault on Monday to tackle the costs of far-reaching technological and regulatory changes by creating the world’s third-biggest automaker. If it goes ahead, the $35 billion-plus tie-up would alter the landscape for rivals including General Motors and Peugeot maker PSA Group, which… Continue reading Fiat Chrysler and Renault pursue $35 billion merger to combat car industry upheaval
Fiat Chrysler proposes merger with Renault
Fiat Chrysler has made a “transformative” merger proposal for French carmaker Renault, the Italian firm said on Monday. The combined business would be 50% owned by Fiat shareholders and 50% by Renault stockholders. The carmaker said the merger would create a global automotive leader, with 8.7 million vehicle sales. Carmakers have faced pressure to consolidate… Continue reading Fiat Chrysler proposes merger with Renault
Fiat’s experience with Chrysler shows Renault deal can work – FCA chairman
MILAN, May 27 (Reuters) – Fiat’s experience with Chrysler shows the scope of what Fiat Chrysler (FCA) could achieve in the next few years if a proposed merger with Renault went through, the chairman of the Italian-American car maker said on Monday. “Based on the experience with Chrysler in these past 10 years, I’m very… Continue reading Fiat’s experience with Chrysler shows Renault deal can work – FCA chairman