Fiat Chrysler Withdraws Renault Merger Proposal; Maintaining FVEs: FCA at EUR 28 and RNO at EUR 90
No-moat-rated Fiat Chrysler has withdrawn its Renault (also no-moat-rated) merger proposal. Renault's Board met on Tuesday and Wednesday, each resulting in an announcement that a decision would be postponed. In the last press release, the Board said that it, "was unable to take a decision due to the request expressed by the representatives of the French State to postpone the vote to a later Council." Shortly after, Fiat Chrysler issued a press release stating that, while the company believes the...Renault is an automobile manufacturer. Co.'s activities have been organized into two main business sectors, in more than 120 countries: Automotive and Sales Financing. Co. designs, develops and sells passenger cars and light commercial vehicles. Following the acquisition of Romanian carmaker Dacia and Samsung Motors' operating assets in South Korea, Co. has three automotive brands: Renault, Dacia and Samsung. RCI Banque, Co.'s captive financing arm, finances sales of the Renault, Renault Samsung Motors (RSM) and Dacia brands, and, in Europe, the Nissan and Infiniti brands. In addition to these two activities, Co. has equity investments in the following two companies: Nissan and AVTOVAZ.
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