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PEUGEOT SA

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Peugeot-Fiat Chrysler EUR3.7 Billion Synergies Is a 'Floor', Peugeot Chairman Says

06/25/2020 | 06:48am EDT

By Jessica Sier

 

The 3.7 billion euro ($4.18 billion) full-year synergies expected from the Peugeot SA and Fiat Chrysler Automobiles NV merger is a "floor", Carlos Tavares, chairman of the French car maker's management board, said Thursday.

"I am going to take the risk today of telling you that this amount is a floor," Mr. Tavares said at the Peugeot shareholders general meeting. A 'floor' is the minimum amount expected.

The merger planning between the two companies is progressing "exactly as planned," Mr. Tavares added.

When asked about a revision to the terms of the merger after the coronavirus crisis, he said "now is not the time."

Ten of the 20 antitrust files filed by the two groups have received a green light, notably in China, the U.S. and Russia, Mr. Tavares said.

Mr. Tavares said 25 working groups are working on this merger, representing 500 executives of the two companies.

Peugeot and Fiat Chrysler expect to finalize their merger by the end of the first quarter of 2021.

 

Write to Jessica Sier at jessica.sier@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
PEUGEOT SA -4.21% 21.85 End-of-day quote.-2.32%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.53% 72.8019 Delayed Quote.-1.80%
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Financials
Sales 2021 154 B 182 B 182 B
Net income 2021 6 968 M 8 263 M 8 263 M
Net cash 2021 15 502 M 18 384 M 18 384 M
P/E ratio 2021 7,18x
Yield 2021 3,62%
Capitalization 51 553 M 61 118 M 61 138 M
EV / Sales 2021 0,23x
EV / Sales 2022 0,20x
Nbr of Employees 204 000
Free-Float 63,7%
Chart PEUGEOT SA
Duration : Period :
Peugeot SA Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 22
Average target price 19,25 €
Last Close Price 16,46 €
Spread / Highest target 39,7%
Spread / Average Target 16,9%
Spread / Lowest Target -30,2%
EPS Revisions
Managers and Directors
NameTitle
Carlos Tavares Chief Executive Officer & Executive Director
Richard Keith Palmer Chief Financial Officer
John Jacob Philip Elkann Chairman
Harald J. Wester Chief Engineering Officer
Henri de la Croix de Castries Senior Independent Non-Executive Director
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