[UPDATE, May 27] Renault has released a new press release and says it has carefully reviewed the friendly proposal of the FCA and has decided to "study with interest the possibility of such a business combination, comforting Groupe Renault's production footprint and create additional value for the Alliance. "Further details will be released" over time. "
Following yesterday's somewhat surprising report on a potential merger between Renault and Fiat Chrysler Automobiles, the French company has just confirmed that it has received a proposal for a 50/50 merger agreement between two companies. In a super short press release, the automaker reveals that the board will meet this morning and will discuss the proposal. A press release after this meeting will be issued and we expect this to happen in the next few hours.
"Groupe Renault confirms that it received a proposal from FCA (Fiat Chrysler Automobiles) regarding a potential 50/50 merger transaction between Groupe Renault and FCA. Renault's Board of Directors meets this morning to discuss this proposal. A press release will be issued. after this meeting. "
According to Bloomberg the two producers are discussing" an operational relationship that can lead to a merger. "The publication believes that a partnership deal message should be made fairly quickly, but it will not involve Nissan and Mitsubishi, at least initially. Interestingly, it is believed that Renault negotiates with FCA without the approval of one of the Japanese companies.
First rumors of a potential agreement between Renault and FCA emerged in March this year following a report by Financial Times . With reference to non-named sources close to the case, the publication stated a complete merger could occur over the next 1
We expect the situation to develop markedly today, so stay updated for more details. Official announcements from both Renault and FCA could come before the end of the day.
Boulogne-Billancourt, May 27 th 2019 – Groupe Renault confirms, that it received a proposal from FCA (Fiat Chrysler Automobiles) for a potential 50/50 merger transaction between Groupe Renault and FCA.
Renault's Board of Directors meets this morning to discuss this proposal.
A press release will be issued after this meeting.