Fiat-Chrysler seeks 50/50 merger with Renault

  Groupe Renault

Renault will decide on the merger "over time".

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Fiat Chrysler Automobiles has officially proposed a merger with France's Groupe Renault. According to a brief statement by Renault on Monday, FCA is seeking a "potential 50/50 merger transaction" between the two companies.

A follow-up task, also published by Renault on Monday, confirms the receipt of the FCA's "friendly proposal," and says the company's board "decided to study with interest the possibility of such a combination of business, comforting Groupe Renault's production footprint and creating added value for the Alliance. "

Regarding a Bloomberg report, the Renault / FCA agreement suggests looking ahead with no input from Nissan or Mitsubishi, the other automakers tied up in the Renault Alliance. Bloomberg says Renault has agreed not to pursue a deal with Nissan, but the Japanese car manufacturer could join the fold later.

No official decision has been made yet, Renault's statement simply states that "further communication will be issued over time."

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