FCA and PSA revise merger due to COVID-19

FCA and PSA agree on revisions to the upcoming merger due to COVID-19

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Fiat Chrysler and PSA announced plans to amend the merger that will launch Stellantis in 2021.  FCA announced in a press release that the amendments were made to address the liquidity impact on the automotive industry due to COVID-19. The companies plan to preserve the economic value with a 50-50 balance of the combined entity known as Stellantis. Fiat Chrysler will distribute a $3.4 billion dividend to shareholders before the merger instead of the previous agreement of $6.5 billion. PSA plans to delay the distribution of its 46% stake in auto supplier Faurecia until the deal closes.  Based on current…

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