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    FIAT CHRYSLER AND PEUGEOT SIGN DEAL FOR 50-50 MERGER

    Dec 21, 2019 4 minutes

    The boards of Fiat Chrysler Automobiles and PSA Peugeot on Wednesday signed a binding merger deal creating the world’s fourth-largest automaker with the scale to confront the challenges of stricter emissions regulations and the transition to new driving technologies.

    The companies said in a joint statement the new group will be led by PSA’s cost-cutting CEO Carlos Tavares, with Fiat Chrysler’s chairman John Elkann as head of the board of the merged group. Fiat Chrysler CEO Mike Manley will stay on, though it was unclear in what capacity.

    No name for the new company has been decided, executives

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