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PSA and FCA Amend Merger Terms to Conserve Cash

PSA and FCA Amend Merger Terms to Conserve Cash

Groupe PSA and Fiat Chrysler Automobiles (FCA) have restructured the terms of their planned merger to conserve cash, and also stepped up the promised levels of cost cutting during the pandemic.The two companies, which are set to merge into Stellantis, the world's fourth-largest carmaker, said in a ...
Groupe PSA and FCA to be known as STELLANTIS

Groupe PSA and FCA to be known as STELLANTIS

It was announced today the name of the new group resulting from the merger of Groupe PSA and FCA (Fiat Chrysler Automobiles) will be known as STELLANTIS.This further buries the Citroën brand in the quagmire of companies that have been assimilated under PSA or, like the DS brand, created to target ...
Disappointment if You Own PSA Stock

Disappointment if You Own PSA Stock

Yesterday Groupe PSA announced that they will withhold their 2019 dividend payout. The moves comes after rumours last week that Fiat Chrysler Automobiles (FCA) would also be withholding dividend payments.A $1.19 billion ordinary dividend for both FCA and PSA was announced in December as part of the ...
Standard & Poor’s Downgrades PSA and Renault Bonds

Standard & Poor’s Downgrades PSA and Renault Bonds

Credit rating agency Standard& Poor's (S&P) delivered a downgrade to Groupe PSA keeping its bonds at a BBB- rating, but cutting its outlook on PSA to "negative" from "stable."S&P took even harder aim at Renault, downgrading its bonds to 'BB+/B' from 'BBB-/A-3', meaning it had ascribed a ...
PSA Seeks to “Pick-up the Tempo” on FCA Merger

PSA Seeks to “Pick-up the Tempo” on FCA Merger

The teams working on the merger of Groupe PSA and Fiat Chrysler Automobiles (FCA) are “picking up the tempo” to finalize the merger, PSA CEO Carlos Tavares stated yesterday.The merger was announced at the end of October and originally scheduled to be finalized in early 2021 at the latest, in or ...
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 ...
PSA Invests In Two New EV Battery Cell Plants

PSA Invests In Two New EV Battery Cell Plants

It would appear that next-generation cars manufactured for the Citroën brand will benefit from a major investment Groupe PSA announced on February 3, 2020 (through its German Opel brand) with French battery manufacturer Saft (part of Total since 2016) for two lithium-ion EV battery cell plants to ...
China’s Changan Automobile Bails on PSA Due to Poor DS Sales

China’s Changan Automobile Bails on PSA Due to Poor DS Sales

China's Chongqing Changan Automobile has agreed to sell its $234.22 million US stake in its joint venture with Groupe PSA to a subsidiary of Baoneng, the company said in a statement last week.A spokesman for PSA also confirmed last week that the company would sell its stake in CAPSA to the Baoneng ...
With FCA and PSA merged, what will Citroën’s future be?

With FCA and PSA merged, what will Citroën’s future be?

The joining of Fiat Chrysler Automobiles and Groupe PSA at the end of 2019 created the world's fourth-largest automobile manufacturer by volume and third-largest by revenue with annual sales of 8.7 million units and combined revenues of nearly $190 billion euros to produce a projected recurring ope ...

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