The Wsj adds some details. The CEO of Peugeot, Carlos Tavares, would become the managing director of an equal company (50 FCA and 50 Peugeot) able to sell almost 9 million cars in the world and to place himself between the third and fourth place in the global rankings of manufacturers . John Elkann would be the president of the giant. Scheme not unlike that of the failed alliance with Renault: Elkann president and a French operative. The total turnover of the group would exceed 180 billion euros. The capitalization would favor the French: 22 billion euros yesterday against the 18 of Fca. A total of 40 billion euros, about 45 billion dollars.But these values are naturally destined to rise as a result of the rumors. However, the size of the two groups is not far off: "With Fca the planets are aligned," Robert Peugeot had said in the spring, interviewed by the Paris financial newspaper Les Echos. And a dinner between the same Peugeot and Elkann had also been talked about in May, on the eve of the announcement of Renault's offer from Turin.
At the beginning of June the alliance with Renault seemed closed. And the CEO of Peugeot, Carlos Tavares, did not take it well: "The transaction proposed by Fca to Renault seems to be the result of opportunistic reasoning, since it would be the Italian-American partner that would benefit from the merger. On the contrary, Renault is now in danger that the partnership with Nissan will lose further momentum ».
Anger from a betrayed lover, probably. But if it really comes to the marriage between the Lingotto and Peugeot, it will be the demonstration that the lover has behaved like an excellent cashier. Both the French and Elkann hope to exploit the opportunity offered by the disengagement of the Chinese of Duang Feng, who today own 14 percent of the Psa group. Their departure from the scene would blow up the internal balance by offering the possibility to two of the great motor families, the Peugeots and the Agnellis, to give life to a world giant.
What are the advantages? For the French the dowry of the American market, certainly the most interesting asset of the Turin group. For Fca, Psa's roots in the Asian market and the knowledge of the new French partner in the electricity sector, one of the points on which Fca has only recently chosen to invest. Issues that will certainly be on the table of the next Peugeot board of directors, according to yesterday's rumors called for this afternoon. The FCA budget had already been scheduled for tomorrow, with the approval of the quarterly budget on the agenda.
The great issue on which the FCA-Renault alliance project was shattered remains on the whole operation: the role of the French government. Faced with the constant relaunches of the Economy Minister, Bruno LeMaire, who demanded more and more guarantees, John Elkann had gathered the board of directors and had broken negotiations with a very tough statement: "It has become clear that there are currently no political conditions in France because a similar fusion proceeds successfully ». In France the government remained the same and is a shareholder of Peugeot as it was of Renault. What has changed? Perhaps this time the Paris executive will be more cautious in his demands.
Carlo VerdelliSUBSCRIBE TO REPUBLIC
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- Topics:
- Fca-Peugeot
- Car
- fca
- Protagonists:
- John Elkann
- Carlos Tavares
Source link
https://www.repubblica.it/economia/2019/10/29/news/auto_verso_nuove_nozze_francesi_fca_stringe_con_il_gruppo_peugeot-239841221/
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