Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Fiat Chrysler Automobiles N.V.    FCA   NL0010877643

FIAT CHRYSLER AUTOMOBILES N.V.

(FCA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Fiat, PSA to win EU approval for $38 bln merger - sources

10/26/2020 | 04:41am EST

* Merger to create world's No.4 automaker

* Plan to help Toyota eases EU concerns - sources

* EU decision could come by end of the year - sources

* FCA, PSA shares reverse early losses to trade higher (Adds EU decision expected by the end of the year, updates shares)

BRUSSELS/MILAN, Oct 26 (Reuters) - Fiat Chrysler and PSA are set to win EU approval for their $38 billion merger to create the world's No.4 carmaker, people close to the matter said, as they strive to meet the industry's dual challenges of funding cleaner vehicles and the global pandemic.

The green light from the European Commission would formalise the creation of Stellantis, a carmaking group that could tap hefty profits from selling Ram pickup trucks and Jeep SUVs to U.S. drivers to fund the expensive development of zero-emission vehicles for sale in Europe and China.

The all-share merger announced late last year would unite brands such as Fiat, Jeep, Dodge, Ram and Maserati with the likes of Peugeot, Opel and DS - while targeting annual cost cuts of 5 billion euros ($6 billion) without closing factories.

The Commission and Italian-American group Fiat Chrysler Automobiles (FCA) declined to comment. France's PSA did not immediately respond to a request for comment.

PSA and FCA shares reversed losses after the Reuters story was published. PSA stock was last up 3.4% at 17.06 euros, while FCA shares were 3% higher at 11.43 euros.

To allay EU antitrust concerns, PSA has offered to strengthen Japanese rival Toyota Motor Corp, with which it has a van joint venture, by ramping up production and selling it vans at close to cost price, the people said.

FCA and PSA will also allow their dealers in certain cities to repair rival brands.

Following feedback from rivals and customers, the carmakers only had to tweak the wording of their concessions, with no changes to the substance, the people said.

The companies did not have to use the COVID-19 pandemic to argue for the merger, they said, adding the EU decision could come by the end of the year, ahead of the official Feb. 2 deadline.

FCA and PSA have said they hope to complete the merger in the first quarter of 2021.

The challenge of switching to electric cars has been complicated by the COVID-19 pandemic.

Just last month, FCA and PSA restructured the terms of their deal to conserve cash and raised their targeted cost savings because of the economic fallout from the health crisis.

The companies have said about 40% of the savings will come from product-related expenses, 40% from purchasing and 20% from other areas, such as marketing, IT and logistics.

(1 euro = $1.1859) (Reporting by Foo Yun Chee in Brussels and Giulio Piovaccari in Milan, additional reporting by Gilles Guillaume in Paris, writing by Nick Carey; editing by Jason Neely and Mark Potter)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
FIAT CHRYSLER AUTOMOBILES N.V. 0.35% 13.136 Delayed Quote.-0.80%
PEUGEOT SA 0.71% 19.895 Real-time Quote.-7.21%
TOYOTA INDUSTRIES CORPORATION 0.65% 7770 End-of-day quote.22.75%
TOYOTA MOTOR CORPORATION -0.67% 7301 End-of-day quote.-5.35%
All news about FIAT CHRYSLER AUTOMOBILES N.V.
11/26FIAT CHRYSLER AUTOMOBILES N : Maserati to electrify entire line-up in next five ..
RE
11/25FIAT CHRYSLER AUTOMOBILES N : Dodge//SRT Launches Black Friday 'Dodge Power Doll..
AQ
11/25FIAT CHRYSLER AUTOMOBILES N : Ram Launches Fourth Phase of U.S. Armed Forces-ins..
AQ
11/25FIAT CHRYSLER AUTOMOBILES N : Ram Truck Brand Continues Holiday Tradition to Lea..
AQ
11/25FIAT CHRYSLER AUTOMOBILES N : Jeep Store by Amazon Opens to Enthusiasts
AQ
11/24Ford orders 12 ultra-cold freezers to distribute COVID-19 vaccines to employe..
RE
11/24FIAT CHRYSLER AUTOMOBILES N : Orders kick off for the new Talento DCT
PU
11/24FIAT CHRYSLER AUTOMOBILES N : Opens Official Jeep Store on Amazon
DJ
11/24FIAT CHRYSLER AUTOMOBILES N : Dodge//SRT Launches Black Friday 'Dodge Power Doll..
PU
11/24FIAT CHRYSLER AUTOMOBILES N : Ram Launches Fourth Phase of U.S. Armed Forces-ins..
PU
More news
Financials
Sales 2020 86 322 M 103 B 103 B
Net income 2020 45,5 M 54,3 M 54,3 M
Net cash 2020 2 480 M 2 958 M 2 958 M
P/E ratio 2020 -48,1x
Yield 2020 14,1%
Capitalization 20 610 M 24 538 M 24 584 M
EV / Sales 2020 0,21x
EV / Sales 2021 0,17x
Nbr of Employees 191 752
Free-Float 53,6%
Chart FIAT CHRYSLER AUTOMOBILES N.V.
Duration : Period :
Fiat Chrysler Automobiles N.V. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FIAT CHRYSLER AUTOMOBILES N.V.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 14,21 €
Last Close Price 13,09 €
Spread / Highest target 122%
Spread / Average Target 8,56%
Spread / Lowest Target -46,5%
EPS Revisions
Managers
NameTitle
Michael Mark Manley President, Chief Executive Officer & Director
John Jacob Philip Elkann Chairman
Richard Keith Palmer Chief Financial Officer & Executive Director
Harald J. Wester Chief Technology Officer
Andrea Agnelli Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
FIAT CHRYSLER AUTOMOBILES N.V.-0.80%24 538
BYD COMPANY LIMITED388.80%73 355
SAIC MOTOR CORPORATION LIMITED4.61%46 238
FERRARI N.V.28.30%39 239
MARUTI SUZUKI INDIA LTD-4.25%28 887
GUANGZHOU AUTOMOBILE GROUP CO., LTD.-9.28%19 354