Fiat proposes Renault merger in latest drive for scale
Together, Fiat and Renault made about 8.7 million cars last year, which would put the pair past South Korea’s Hyundai and Detroit’s General Motors, but still behind Volkswagen and Toyota
The transaction would be structured as a 50-50 ownership through a Dutch holding company, Fiat said on Monday. Renault shareholders, including the French government, would get an implied premium of about 10 per cent. In a statement, Renault’s board said it would study what it called a “friendly” proposal.
The car makers are moving ahead without Renault’s 20-year partner, Nissan, and Mitsubishi Motors, the other member of their troubled alliance. Fiat has...
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