[UPDATE, May 27] Renault has released a new press release saying it has carefully reviewed the friendly proposal of the FCA and has decided to "study with interest the possibility of such a combination, comforting Groupe Renault's production footprint and create added value for the Alliance. "Further details will be released" over time ".
After it was a 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 meets this morning and will discuss the proposal. A press release after this meeting will be issued, and we expect this to happen within the next few hours.
"Groupe Renault confirms that it received a proposal from the FCA (Fiat Chrysler Automobiles) for a potential 50/50 merger transaction between the Groupe Renault and FCA. Renault's Board meets this morning to discuss this proposal. A press release will be issued after this meeting. "
According to Bloomberg the two manufacturers are discussing" an operational relationship that may lead to full merger. "The publication believes that a partnership agreement announcement should be made very soon, 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 deal between Renault and FCA appeared in March this year following a report by Financial Times . With reference to non-named sources near the case, the publication says that a full merger may take place over the next 1[ads1]2 months or so.
We expect the development to evolve significantly today, so stay up to date 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 Board members meet this morning to discuss this proposal.
A press release will be issued after this meeting.