FCA withdraws merger proposal to Groupe Renault

6 June 2019
6 June 2019, Comments Comments Off on FCA withdraws merger proposal to Groupe Renault

The Board of Fiat Chrysler Automobiles (FCA) has decided to withdraw its merger proposal made to Groupe Renault on 27 May, saying that the political conditions in France do not currently exist for such a combination to proceed successfully.

FCA remains firmly convinced of the rationale of a proposal that was submitted, the structure and terms of which were carefully balanced to deliver substantial benefits to all parties.

FCA expresses its sincere thanks to Groupe Renault, in particular to its Chairman and its Chief Executive Officer, and also to the Alliance partners at Nissan Motor Company and Mitsubishi Motors Corporation, for their constructive engagement on all aspects of FCA’s proposal.

FCA will continue to deliver on its commitments through the implementation of its independent strategy.