Renault eyes Fiat Chrysler bid after Nissan merger, Auto Information, Automobilnews
TOKYO: Renault SA is aiming to restart merger talks with Nissan Motor inside 12 months as step one towards the creation of an even bigger auto conglomerate that can contain a bid by each corporations for Fiat Chrysler Vehicles NV, the Monetary Occasions reported.The creation of a brand new alliance board led by Renault chairman Jean-Dominique Senard has improved confidence that the 2 sides can push forward with merger plans, the newspaper reported on Wednesday, citing unidentified individuals aware of each side’ pondering.
A mixture of Renault, Nissan, Fiat and Chrysler would create an automaker that would higher compete in opposition to world opponents reminiscent of Volkswagen AG and Toyota Motor.
Carlos Ghosn, the previous chairman of Renault and Nissan who was arrested in Tokyo in November on expenses of economic wrongdoing, had held talks about merging Renault with Fiat Chrysler two to a few years in the past, the Monetary Occasions reported, citing two unidentified sources. Ghosn’s proposal was stopped by the French authorities, the newspaper mentioned.
Additionally learn: Renault goals to restart Nissan merger talks inside 12 months: ReportGhosn, who’s free on bail pending his trial, has denied the costs in opposition to him.
Fiat Chrysler itself is searching for a partnership or merger, and Chairman John Elkann has met with different rivals together with Peugeotmaker PSA Group of France to gauge the potential of a deal, the newspaper reported.
Spokesmen for Renault, Nissan and Fiat Chrysler declined to touch upon the report. Shares in Renault rose as a lot as 3.3% in Paris, whereas Fiat jumped as a lot as 3.8% in Milan.
The French carmaker, which owns 43% of Nissan, has a market capitalisation of 17.Three billion euros ($19.5 billion). Nissan, which in flip owns 15% of Renault, has a market worth of about $35 billion, whereas Fiat Chrysler’s is 20.four billion euros.