Fiat Chrysler, Renault in Talks for Wide-Ranging Tie-Up --Update
26 May 2019 - 04:37AM
Dow Jones News
By Liz Hoffman, Christina Rogers and Cara Lombardo
Fiat Chrysler Automobiles NV and Renault SA are in talks for a
wide-ranging tie-up that could include joining large portions of
their businesses, according to people familiar with the matter, a
move that could reshape the European auto industry.
While many details and the financial contours of any transaction
couldn't be learned, it could be substantial: Fiat Chrysler, which
trades in New York and Milan, has a market value of $20 billion.
Paris-listed Renault is worth about $17 billion.
There is no guarantee the parties will reach an agreement, but
if they do so it could come soon, some of the people said.
That Renault and Fiat Chrysler, considered crown jewels in
France and Italy respectively, would seek a major overhaul shows
the challenges facing global auto makers. As demand slows for new
cars, the advantages of global scale are starting to outweigh the
national pride and other factors that have kept homegrown car
makers across Europe independent.
--Nick Kostov, Eric Sylvers and Ben Dummett contributed to this
article.
Write to Liz Hoffman at liz.hoffman@wsj.com, Christina Rogers at
christina.rogers@wsj.com and Cara Lombardo at
cara.lombardo@wsj.com
(END) Dow Jones Newswires
May 25, 2019 14:22 ET (18:22 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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