FCA: amends agreement with Peugeot
(CercleFinance.com) - Fiat Chrysler Automobiles (FCA) and Peugeot have announced an amendment to certain terms of their binding 50/50 combination agreement to create Stellantis, taking into account the impact that the health crisis is having on liquidity in the automobile industry.
Thus, the exceptional dividend payout to be distributed by FCA to its shareholders, before the final signature, has been reduced from 5.5 billion euros to 2.9 billion euros. However, Faurecia shares held by Peugeot will be distributed to all Stellantis' shareholders after the deal has been completed.
Moreover, the estimate of the annual run-rate synergies from the creation of Stellantis have been significantly increased from 3.7 billion to over 5 billion euros, while a one-off implementation cost of achieving these synergies has also been increased from 2.8 billion euros has been increased to up to four billion euros.
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