Groupe PSA and FCA agree to merge; sign binding ‘Combination Agreement’
PSA and FCA expects the merger to be completed in next 12-15 months, subject to customary closing conditions
Groupe PSA and Fiat Chrysler Automobiles (FCA) have agreed to the terms of previously-announced merger and signed a binding ‘Combination Agreement’ today (18 December), the two companies said in a joint press release. The 50:50 merger paves the way for creating the world fourth largest automotive group by volume and third largest by revenue. The combined company will have annual unit sales of 8.7 million units, with revenue of around EUR170 billion and recurring profit of over EUR11 billion and an operating profit margin of 6.6%, on the simple aggregated basis of 2018 results.