PSA-Fiat Deal Terms Hinge on Strength of Recovery, Tavares Says
- Peugeot maker is expecting significant rebound in second half
- CEO says cash flows of companies will be examined at year end
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PSA Group Chief Executive Officer Carlos Tavares said the strength of recovery from the coronavirus pandemic will determine whether a planned combination with Fiat Chrysler Automobiles NV can move ahead under terms agreed last year.
“At this stage it is premature to discuss this matter as long as we don’t see the magnitude of the rebound both on the FCA and the PSA sides,” Tavares said Tuesday in a Bloomberg Television interview. “By the end of this year, after the rebound, we’ll see what will be the potential cash position” of the combined company, which has been named Stellantis.