Fiat Chrysler Automobiles has officially proposed a merger with France’s Groupe Renault. According to a brief statement issued by Renault on Monday, FCA is seeking “a potential 50/50 merger transaction” between the two companies.
A followup statement, also released by Renault on Monday, confirms the receipt of FCA’s “friendly proposal,” and says the company’s board of directors “decided to study with interest the opportunity of such a business combination, comforting Groupe Renault’s manufacturing footprint and creating additional value for the Alliance.”
Speaking of which, a report from Bloomberg suggests the Renault/FCA deal looks to be moving forward without the input of Nissan or Mitsubishi, the other carmakers tied up in the Renault Alliance. Bloomberg says Renault has agreed to not pursue a deal with Nissan, but that the Japanese automaker could join the fold later.
No official decision has been made just yet, Renault’s statement only saying “further communication will be issued in due course.” We’ll definitely be watching this one closely.