Fiat Chrysler Automobiles and Peugeot-Citroen have signed a merger agreement, according to which they enjoy equal shares in the newly formed alliance (50:50). The resulting company will be the fourth largest automotive business in existence.
In the meantime, the two businesses are finalizing the formalities, which is going to take between 15 and 18 months, and estimate the deal amount at $50,000,000,000 (fifty billion USD).
The emerging corporation will establish its own management company with shares available via Euronext, the New York Stock Exchange, and the Italian Stock Exchange.
The Board of Directors will comprise 11 members and be headed by current PSA CEO Carlos Tavares. Tavares will also be appointed the main representative of Peugeot-Citroen, while FCA CEO Michael Manley will assume a similar position at the FCA.