Archive for the ‘Renault’ Category

French Government Blamed for Collapse of Fiat Chrysler – Renault Merger Plan

Government’s “cumulative demands and pressures” prove too much; FCA opts out rather than accepting further delays.

by on Jun.06, 2019

FCA CEO Mike Manley had hoped to create the world's third-largest automaker with Renault.

Less than two weeks after proposing a merger-of-equals with Renault that would have formed the world’s third-largest automaker, Fiat Chrysler Automobiles withdrew the offer late Wednesday citing government interference in the proposed deal.

“We went in different directions very rapidly,” said a source close to the ongoing negotiations, noting that only three hours earlier the two carmakers had been preparing to release a joint statement indicating that the Renault board had voted in favor of the proposal and would begin taking the necessary steps to complete a merger – a process expected to take 12 to 18 months.

Going into the negotiations, it was clear there would be some potential obstacles, notably finding a way to preserve Renault’s long-standing relationship with Japanese automakers Nissan and Mitsubishi. But, in the end, FCA formally pointed blame for the collapse of the deal at the French government that is Renault’s largest shareholder.

Breaking News!

“It has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully,” FCA said in a statement.

(more…)

FCA Scuttles Deal With Renault, Blames French Government

Automaker rescinds offer "with immediate effect."

by on Jun.05, 2019

Fiat Chrysler rescinded its merger offer to Renault after the French government's demands became too much.

The deal is off.

Fiat Chrysler’s board of directors held a meeting this evening to put the final touches on a deal with Renault, including a press release announcing the two sides had reached an agreement for a merger that would create the third-largest automaker in the world.

News Now!

However, in a span of about three hours, the deal unraveled under demands from the French government, sources close to the deal told bingdb.info.  (more…)

Renault Board Puts Brakes on Merger Talks with Fiat Chrysler

French government applying pressure for board to meet demands.

by on Jun.05, 2019

French Finance Minister Bruno Le Maire said the government wants certain assurances met before it will sign off on any Renault-FCA merger.

After initially appearing to be excited by the prospect of a merger with Fiat Chrysler, Renault is now slow-playing its hand as its board delays a decision about merger talks.

Renault’s board said Tuesday after meeting at its headquarters near Paris that it will meet again Wednesday to “continue to study with interest” Fiat Chrysler Automobiles’ merger offer, the Associated Press reported.

Global News!

The delay may come from concerns about the deal from the French government – Renault’s largest shareholder – as well as several unions. (more…)

Renault Expected to Give Thumbs Up to FCA Marriage Proposal

Nissan upbeat, but cautious, according to report.

by on Jun.04, 2019

Any merger between FCA and Renault must protect France's hourly workforce, such as its Maubeuge plant, French government officials said.

Renault’s board will meet on Tuesday afternoon to pore over the merger proposal offered late last month by Fiat Chrysler Automobiles and reports from Europe suggest the response will be a positive one.

Should the French automaker signal its approval it would surprise few, several observers told bingdb.info, considering the two companies had discussed the idea of a full merger for more than a month before the plan became public.

Global News!

But there are some potential obstacles to be overcome, including the existing ties between Renault and its long-time alliance partner Nissan, as well as Mitsubishi which entered the alliance several years ago. But the two Japanese automakers also appear to be signaling cautious approval for the deal that would create the world’s third-largest automaker – and largest automotive group. (more…)

Renault Reveals Fiat Chrysler Offer to Nissan

Japanese automaker to look over proposal.

by on May.29, 2019

Renault Chairman Jean Dominique Senard revealed the details of the merger offer from Fiat Chrysler to Nissan officials during a board meeting in Tokyo.

The move to merge Fiat Chrysler and Renault, creating the world’s third-largest automaker just got a little more complicated today: Renault revealed the offer to its current partner, Nissan Motors.

Nissan got its first briefing on the potential blockbuster deal when Renault chairman Jean-Dominique Senard was in Tokyo for a board meeting of the three-way alliance among Renault, Nissan and smaller Japanese automaker Mitsubishi Motors Corp.

Business News!

“There was an open and transparent discussion on FCA’s recent proposal to Groupe Renault. The meeting also discussed and positively concluded several current operational alliance matters,” the Renault-Nissan-Mitsubishi alliance said in a statement. (more…)

Putting the Jigsaw Together: Who’ll Run the Show at Merged FCA-Renault?

New management team always a challenge when companies combine.

by on May.29, 2019

Fiat Chairman John Elkann's role in a merged company is part of what the two sides are trying to sort out.

During the coming months, Fiat Chrysler Automobiles and Groupe Renault will be putting an emphasis on due diligence, studying the potential pros and cons of the merger FCA formally proposed on Monday. Among other things, they’ll be looking at how their global operations would come together, everything from product lines to manufacturing operations.

But one of the biggest challenges, numerous sources both in and outside of the two companies stress, will be making sure that their corporate cultures are a comfortable fit. And that will begin at the top, with the management team of what would become the world’s third-largest automaker.

Global News!

With the proposed deal expected to take anywhere from 12 to 18 months to finalize, many things could happen, including the choices for key management positions. But, at the moment, sources closely connected to FCA and Renault expect that Jean-Dominique Senard, currently the French automaker’s chairman, will become the new auto giant’s CEO. John Elkann, now FCA’s chairman, will retain that role in the new organization. (more…)

What Next for Fiat Chrysler and Renault?

Deal faces numerous obstacles; could take 18 months to complete.

by on May.28, 2019

Jeeps, like this new Gladiator pickup, are one of the potential prizes in the proposed merger.

The French government is weighing in on the proposed Fiat Chrysler-Renault merger plan and underscores the potential challenges the automotive merger faces before it can be completed.

Following four months of talks, FCA on Monday proposed a merger-of-equals with the larger of France’s two automakers, a plan expected to take up to 18 months to complete. Before that can happen, however, an assortment of obstacles will need to be overcome, among other things winning the blessings of the French government that holds a 15% stake in Renault.

Breaking News!

French Finance Minister Bruno le Maire told RTL radio on Tuesday that he will demand “four guarantees” from Renault before approving any merger, starting with “the preservation of industrial jobs and sites in France.”

(more…)

FCA Lays Out Plan for “Transformative Merger” with Groupe Renault

Move would create 3rd-largest global automaker; 1st if factoring in Alliance partners Nissan, Mitsubishi.

by on May.27, 2019

Fiat Chrysler Chief Executive Officer Mike Manley originally approached Renault over much more limited plans, such as platform sharing.

After extensive, secret negotiations, Fiat Chrysler Automobiles has laid out a plan to merge with the largest of France’s two automakers, Groupe Renault, a move that would create the world’s third-largest motor vehicle manufacturer, with annual sales of 8.7 million vehicles – and a clear number one if factoring in the volumes of Renault’s current Alliance partners, Nissan and Mitsubishi.

Both FCA and Renault have openly sought new partnerships over the past decade to both expand their geographic bases and fill in gaps in their product and technology portfolios. If, as expected, the proposed deal is completed, the new organization will have a more well-rounded global presence, with FCA bringing to the table its Jeep SUV and Ram pickup brands. Renault, among other things, provides a growing range of electric vehicles and an aggressive autonomous vehicle develop program.

Breaking News!

Over the past decade, FCA has repeatedly said it was looking for a partner, with names like General Motors and Volkswagen on its list. But while those were seen as unsolicited proposals, talks between the Italian-American automaker and Renault have been underway since early this year. And though the French automaker early Monday said that its “Board of Directors will meet this morning to discuss this proposal,” it is expected that this is largely a formality.

(more…)

Fiat Chrysler and Renault Poised to Form New Alliance

Pairing would form third-largest automaker.

by on May.26, 2019

Could another sign change be in Fiat Chrysler's future?

What appeared to be a two-horse race to partner up with Fiat Chrysler Automobiles N.V. is now just down to one – Renault SA – with a deal potentially announced as early as Monday.

The deal, which was reported first by Bloomberg News, not only provides some each company with a strong ally to shore weak areas, it also opens the door to a potential deal with the Renault Nissan Alliance.

Global News!

In late March, FCA was linked to talks with Renault as well as another French automaker, Peugeot, about a tie-up of some sort. While a deal was never consummated with either automaker at the, it appears discussions with Renault have been fruitful. (more…)

Nissan Shoots Down Renault Merger Proposal

Companies enduring tension-filled time.

by on Apr.29, 2019

New Renault Chairman Jean-Dominique Senard and CEO Thierry Bollore proposed a merger between Renault and Nissan that was shot down.

After months of dancing around the possibility of Nissan Motor and Renault SA merging in some form, Nissan rejected Renault’s offer enter in to merger talks.

Renault’s proposal is that the two companies would form a holding company, and each company would own about a 50% stake. Each company would have equal board representation, according to Bloomberg News. The new company would be headquartered on neutral ground outside France or Japan, potentially Singapore.

Global News!

Nissan CEO Hiroto Saikawa told Renault CEO Thierry Bollore and Chairman Jean-Dominique Senard, Nissan wasn’t interested in a full merger at this point, the Financial Times reported. Saikawa has been beating the drum for Nissan to gain more control in the current partnership. (more…)


best-cooler.reviews

kiev.ds-ua.net

www.pharmacy24.com.ua/viagra-sildenafil/viagra-100-mg/