Fiat, PSA stick to merger deal after dividend cut report
Added 07-03-20 02:04:04pm EST - “Fiat Chrysler and PSA said they were sticking to the merger plan after a newspaper said the carmakers were looking at spinning off assets to cut a planned $6.2 billion cash payout to FCA shareholders.” - Foxbusiness.com
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MILAN - Fiat Chrysler (FCA) and PSA said on Friday they were sticking to the merger plan signed last year after a newspaper said the carmakers were looking at spinning off assets to cut a planned 5.5 billion euro ($6.2 billion) cash payout to FCA shareholders.
A spokesman for FCA (FCHA.MI) dismissed the report on possible changes to the dividend in Italian business daily Il Sole 24 Ore, while PSA (PEUP.PA) said it remained “lucid in the face of the regular speculations to which this merger project is subject”. It added it was implementing the binding agreement signed by the two companies in December.
“The structure and terms of the merger are agreed and remain unchanged,” the FCA (FCAU.N) spokesman said.
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