MILAN: Terms of a planned merger between Fiat Chrysler and Peugeot-owner PSA are set in stone, FCA's chairman said on Wednesday, brushing off talk that some aspects of the deal might be re-negotiated because of the COVID-19 crisis.
The potential payment of such a big dividend to shareholders when the coronavirus crisis has left cash-starved manufacturers pushing for government support has been questioned within Italy's ruling coalition."The terms of the FCA-PSA deal are set in stone as binding contracts in their nature are," Elkann said in conference call after the annual shareholder meeting of Exor , the Agnelli family holding company which controls FCA.
"This is a loan which is really designed to help the automotive sector in Italy which we know is a very important part of the Italian economy," Elkann said, referring to the state-backed loan.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »