MODENA: Fiat Chrysler (FCA) and Peugeot Citroen (PSA) announced on Monday (Tuesday in Manila) they’d modified the terms of their mega-merger in light of business disruptions caused by Covid-19.
FCA agreed to lower the exceptional dividend to be distributed to its shareholders to 2.9 billion euros ($3.4 billion), compared to 5.5 billion euros ($6.5 billion) previously, while PSA will distribute its 46 percent stake in French automotive equipment maker Faurecia to all shareholder of the new company, rather than to its shareholders alone as agreed to previously.
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