Peugeot Secures Bondholder Consent for Fiat Merger
13 November 2020 - 01:59PM
Dow Jones News
By Joshua Kirby
Peugeot SA has secured the consent of its bondholders for a
planned merger with Fiat Chrysler Automobiles NV, the French auto
maker said Friday.
The approval follows the launch of a consent solicitation on
Oct. 28 in order to gain the required majority from holders of each
series of bonds, Peugeot said. The approval was won with a "very
large" majority from each series, the company added.
The merger with Fiat is expected to be completed by the end of
the first quarter of 2021, subject to conditions and further
approvals. The combined entity will be known as Stellantis.
Write to Joshua Kirby at joshua.kirby@dowjones.com;
@joshualeokirby
(END) Dow Jones Newswires
November 13, 2020 07:44 ET (12:44 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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