) 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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