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PSA Secures Additional $3.3 Billion in Loans to Cope with Covid-19 Pandemic

PSA Secures Additional $3.3 Billion in Loans to Cope with Covid-19 Pandemic

With its stock down 32%, Groupe PSA has secured a further 3 billion euros ($3.3 billion US) of loans, strengthening its financial position in the wake of the hit to the global automotive industry from the coronavirus crisis.It did not say which banks were involved.Last month, Moody's placed the cre ...
Profits Surge at PSA Ahead of Fiat Chrysler Merger

Profits Surge at PSA Ahead of Fiat Chrysler Merger

Groupe PSA's net profit increased 13.2% to a record 3.2 billion euros, and the company increased its dividend against 2019 results to 1.23 euros per share, up 58% from 2018 levels.PSA offset a slump in vehicle sales by selling pricier SUV models, with launches including the Citroën C5 Aircross hel ...
A Look at How the FCA and PSA Merger Came to Be

A Look at How the FCA and PSA Merger Came to Be

The Fiat Chrysler Automobiles (FCA) and Groupe PSA merger in the latter part of 2019 came about as a means to give both FCA and PSA better chances of survival.As we enter into 2020 and what will be a formulative couple of years, as the new FCA/PSA entity tries to prove the deal beneficial to both co ...

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