FCA, PSA revise merger terms due to COVID-19: source

This post was originally published on this site


“The aim of those changes is to reinforce the balance sheet structure of both companies after the COVID-19 crisis and ensure that the merger plan is concluded as soon as possible,” the source said.

FCA (MI:FCHA) will cut to 3 billion euros the cash portion of a special dividend its shareholders are set to receive under the terms of the merger accord, the source said.

France’s PSA, in turn, will scrap the spin-off of its 46% stake in Faurecia, the source added.

PSA was not immediately available for comment. FCA declined to comment.

Add Comment