Fiat Chrysler, Peugeot owner PSA agree binding merger deal

) said on Wednesday they had agreed on a binding merger agreement, in a $50 billion deal that will pave the way to the creation of the world’s fourth-largest carmaker.

Before the 50-50 share merger is completed, one of PSA’s shareholders, China’s Dongfeng Motor Group , will trim its 12.2% stake in the French carmaker by selling 30.7 million shares to PSA, they added.Additional reporting by Joe White and Sudip Kar-Gupta; Editing by Sarah White

That's the end of Chrysler.

Money Moves ... Don't Quote Me.

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Dongfeng to reduce PSA stake in merger deal with Fiat: sourcesChina's Dongfeng Motor will have a reduced stake of around 4.5% i... 4(per) 1 penny Ante Up annieoakley RayVaughn4real
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Dongfeng to reduce PSA stake in merger deal with Fiat: sourcesChina's Dongfeng Motor will have a reduced stake of around 4.5% i... 4(per) 1 penny Ante Up annieoakley RayVaughn4real
Source: Reuters - 🏆 2. / 97 Read more »