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Fiat Chrysler and Peugeot confirm deal to merge


A Jeep Renegade 4×4 e is presented at the Geneva Motor Show March 5, 2019. Signage in the background says”‘FCA Fiat Chrysler Automobiles,” to which Jeep belongs.

Uli Deck | picture alliance | Getty Images

Peugeot (PSA) and Fiat Chrysler (FCA) confirmed their intention to merge on Thursday, in what would be a 50-50 share swap and create the world’s fourth-largest carmaker.

The new company’s shares will be listed in New York, Paris and Milan with FCA’s John Elkann becoming the chairman and Peugeot’s Carlos Tavares becoming the CEO. The proposed tie-up would reportedly create an industry behemoth with 8.7 million vehicle sales, $190 billion in turnover and a combined 400,000…


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