Fiat Chrysler and PSA tweak merger terms due to pandemic | Malay Mail

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NEW YORK, Sept 15 — Fiat Chrysler (FCA) and Peugeot Citroen (PSA) announced yesterday they’d modified the terms of their mega-merger in light of business disruptions caused by Covid-19. FCA agreed to lower the exceptional dividend to be distributed to its shareholders to €2.9 billion (RM14.2...

FCA agreed to lower the exceptional dividend to be distributed to its shareholders to €2.9 billion , compared to €5.5 billion previously. — Reuters pic

FCA agreed to lower the exceptional dividend to be distributed to its shareholders to €2.9 billion , compared to €5.5 billion previously, while PSA will distribute its 46 per cent stake in French automotive equipment maker Faurecia to all shareholder of the new company, rather than to its shareholders alone as agreed to previously.

They were approved “unanimously” by the boards of directors of both companies “with the strong support of their reference shareholders,” FCA and PSA said. The combined company unites brands such as Peugeot, Citroen, Fiat, Chrysler, Jeep, Alfa Romeo and Maserati into a global giant, each of which will continue under its own marque.

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