Fiat Chrysler Automobiles submits nonbinding ‘merger of equal’ offer to Renault Group

Proposed merger to result in annual synergies of more than USD5.6 billion, arising from more efficient investment in common global vehicle platforms, architectures, powertrains and technologies

Fiat Chrysler Automobiles (FCA) has submitted a non-binding ‘merger of equals’ offer to Renault Group which would create the world’s third largest automaker with annual sales of 8.7 million vehicles globally, the automaker said in a press release today (27 May). The proposed merger is also expected to drive annual savings of more than EUR5 billion (USD5.6 billion) in addition to existing synergies generated through Renault- Nissan-Mitsubishi Alliance.