The board of directors of the French group PSA gave the green light Wednesday night to the marriage with the Italian-American Fiat-Chrysler (FCA), step in the constitution of a new giant of the automobile, learned the AFP source close to the folder.
DECEMBER - Discussions between PSA and Fiat Chrysler: the stakes of a possible merger
The agreement between PSA (Peugeot, Citroën, DS and Opel brands) and FCA, which has yet to be validated by the board of directors of PSA, provides that the governance will be composed of 11 members, including six for the French group and five for the Italian-American, according to the same source. According to this source, companies could quickly announce that they are in exclusive negotiations, or even confirm the transaction on Thursday.
Such a union would create the world's number 4 in the sector
Earlier in the day, the two groups employing 400,000 workers worldwide confirmed they were in talks to create the world's number four in the sector. The management of PSA has in any case convened the representatives of the trade unions to the group's Liaison Committee, Thursday morning at 7:50, said the CFDT in a statement.
The idea of this alliance seems for the moment to attract a wide range of actors. Markets first, since the price of PSA rose 4.5% on the Paris Bourse and that of Fiat Chrysler Automobiles (FCA) jumped more than 9% in Milan. The unions then: Force Ouvrière, the first union at PSA, highlighted a "positive industrial dynamic" of the project and the CFE-CGC, number two, retains that there is "no plan for closure of the site in France".
Government says "particularly vigilant" about employment
The French government, so reluctant a few months ago when FCA tried unsuccessfully to converse with Renault, said it was "particularly vigilant" about the job. But the state, shareholder in about 12% of PSA via BpiFrance, also believes that the discussions "confirm the global consolidation movement of the automotive industry, which is necessary and in which France wants to take its place".
These talks come just months after the failure of a merger project between Fiat Chrysler and Renault, the number one French car.