Fiat Chrysler is considering options to reduce a planned cash payout to its shareholders which is part of its tie-up agreement with France's PSA , including spinning off assets, Italian daily Il Sole 24 Ore said on Friday.
FILE PHOTO: The logos of car manufacturers Fiat and Peugeot are seen in front of dealerships of the companies in Saint-Nazaire, France, November 8, 2019. REUTERS/Stephane Mahe/File PhotoMILAN: Fiat Chrysler is considering options to reduce a planned cash payout to its shareholders which is part of its tie-up agreement with France's PSA , including spinning off assets, Italian daily Il Sole 24 Ore said on Friday.
Reducing or cancelling the 5.5 billion euro special dividend Fiat Chrysler is due to pay to its shareholders before the merger is closed would allow the new group to retain cash at a time when the coronavirus crisis has badly hit car markets around the world.Options that FCA is considering with PSA include spinning off Sevel van business, a 50-50 joint venture between the two groups, or FCA's Alfa Romeo and Maserati brands, the report said.
Another option being considered to reduce the amount of the cash dividend is scrapping a planned spin-off of PSA's controlling stake in part maker Faurecia , Il Sole 24 Ore said.
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