Timeline: Fiat Chrysler and Peugeot merger marks next round of consolidation

Fiat Chrysler Automobiles (FCA) and Peugeot S.A. (PSA) announced on Wednesday that they have signed a binding agreement for a 50-50 merger of their businesses. The deal will create the world's third largest car manufacturer by revenue and the fourth largest by automobile sales.
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| Updated on: 19 Dec 2019, 10:53 AM
FILE PHOTO: Logos of Peugeot and Fiat
FILE PHOTO: Logos of Peugeot and Fiat

Fiat Chrysler and Peugeot maker PSA on Wednesday reached a binding agreement for their roughly $50 billion merger, as the auto industry scrambles to develop zero-emissions vehicles and tackle slowing demand.

Following is a chronology of the industry's most important alliances and merger deals:

December 2019

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Fiat Chrysler and PSA reach a binding agreement on a $50 billion tie-up to create world's No. 4 carmaker. Aim to complete deal in 12-15 months.

October 2019

Companies confirm talks over a potential deal.

May 2019

Fiat Chrysler proposes a merger of equals with French rival Renault but later withdraws the idea after the French government demands concessions.

October 2018

Honda Motor Co says it will invest $2.75 billion and take a 5.7% stake in General Motors Co's Cruise self-driving unit.

June 2018

Ford and Volkswagen unveil an alliance in commercial vehicles, though they say they have no plans for an equity swap or cross-ownership structure.

February 2018

Geely Chairman Li Shufu reveals he has bought a 9.69% stake in Mercedes-Benz parent Daimler worth around $9 billion.

January 2018

Mazda and Toyota say they will open a $1.6 billion joint venture factory in Alabama in 2021. Toyota takes a 5% stake in Mazda as part of the deal.

August 1, 2017

General Motors sells European brands Opel and Vauxhall to PSA for 2.2 billion euros.

May 2016

Nissan buys 34% stake in Mitsubishi Motors, handing it de facto control in a $2.2 billion deal.

January 2016

Toyota, which already owned 51.2% of Daihatsu, buys the rest in an all-stock deal worth $3 billion.

September 2015

Fiat Chrysler CEO Marchionne emails GM chief Mary Barra asking her to explore a combination of the two carmakers but is rebuffed.

April 2015

French state ups Renault stake to 19.74% from 15% in a deal designed to block efforts by Nissan to increase its influence over Renault.

January 2014

Fiat buys 41.46% of Chrysler it did not already own in a $4.35 billion deal.

July 2012

Volkswagen takes control of Porsche.

April 2010

Renault-Nissan boss Carlos Ghosn and Daimler CEO Dieter Zetsche unveil arms-length alliance including cross-shareholdings of around 3%.

March 2010

China's Zhejiang Geely Holding buys Volvo cars from Ford $1.8 billion.

2008

India's Tata buys Jaguar and Land Rover from Ford for $2.3 billion.

2007

Daimler sells 80% stake in Chrysler to private equity firm Cerberus for 5.5 billion euros.

March 2000

Ford buys Land Rover from BMW for $2.7 billion.

March 2000

BMW sells Rover but retains ownership of Mini.

March 1999

Renault and Nissan sign an alliance which results in Renault holding a 44.4% stake in Nissan, while Nissan bought 15% of Renault shares.

January 1999

Ford buys Sweden's Volvo cars for $6.45 billion.

September 1998

Volkswagen buys Lamborghini.

July 1998

Volkswagen buys Bentley and Bugatti.

May 1998

Daimler-Benz buys Chrysler for $36 billion.

January 1994

BMW buys Rover Group for 800 million pounds.

December 1990

Czech government allows Volkswagen to buy Skoda.

June 1986

Volkswagen buys 51% of Seat.

First Published Date: 19 Dec 2019, 10:53 AM IST
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