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FILE PHOTO: Logos of Peugeot and Fiat
FILE PHOTO: Logos of Peugeot and Fiat

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.

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

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.

This story has been published from a wire agency feed without modifications to the text.

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