Fiat Chrysler, Peugeot maker PSA revise merger terms due to Covid-19 crisis

PARIS (Reuters) - Peugeot maker PSA and Fiat Chrysler (FCA) said on Monday they had restructured the terms of their planned merger to conserve cash, and also stepped up the promised levels of cost cutting during the continuing pandemic. The two companies, which are set to merge into Stellantis, the world's fourth-largest carmaker, said in a joint statement that FCA would cut to 2.

9 billion euros ($3.4 billion) the cash portion of a 5.5 billion euro special dividend its shareholders will receive under the terms of the accord they.....

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