Dongfeng to reduce PSA stake in merger deal with Fiat: sources

📆 2019/12/18 10:30:00
📰 Reuters

⏱ Reading Time:
31 sec. here
2 min. at publisher
📊 Quality Score:
News: 16%
Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

China's Dongfeng Motor will have a reduced stake of around 4.5% i...

Earlier the board of PSA approved a binding memorandum of understanding for a $50 billion tie-up between the two groups.

Dongfeng has a 12.2% equity stake in PSA and under a preliminary agreement announced in October would have had about half of that in the combined entity with FCA. Dongfeng did not response to requests for comment. The company halted trading of its shares on Wednesday. According to the binding deal approved by PSA board on Tuesday, FCA’s robot unit Comau will remain within the combined group rather than being spun off as was originally planned in October, the sources said.Reporting by Gianluca Semeraro, writing by Giulio Piovaccari, Additional Reporting by Yilei Sun in Beijing; editing by Silvia Aloisi

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

4(per) 1 penny Ante Up annieoakley RayVaughn4real

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Carlyle, Others Buy Part of AmEx Corporate-Travel BusinessCarlyle Group and others are taking a stake in American Express Global Business Travel, in an equity recapitalization deal that values the company at $5 billion, including debt, according to a person familiar with the matter I need the Black American Express . Send now please.
Source: WSJ - 🏆 98. / 63 Read more »