PEUGEOT INVEST (EPA:PEUG) - Merger between PSA and FCA

Transparency directive : regulatory news

18/12/2019 08:42

Neuilly-sur-Seine, 18 December 2019

FFP and its majority shareholder Etablissements Peugeot Frères support the
proposed merger between Peugeot SA and Fiat Chrysler Automobiles BV

The Board of Directors of FFP and the Board of Directors of its majority
shareholder Etablissements Peugeot Frères ("EPF") unanimously resolved to
support the proposed merger agreement between Peugeot SA and Fiat Chrysler
Automobiles BV. Each of FFP and EPF is a member of the supervisory board of
Peugeot SA and they hold a combined 12.2% equity share, representing 17.6% of
the voting rights of Peugeot S.A.

This combination will create one of the largest global OEMs with the critical
size to invest in technologies and services of the future, while enjoying
strong positions in Europe, North America and South America.

Expected synergies are significant (estimated at a EUR3.7 billion annual
run-rate) and will reinforce the financial situation of the new group.

This transaction strikes a balanced merger between the two groups. EPF/FFP and
Bpifrance, the French reference shareholders, will each have a seat on the
board, while Exor, FCA's reference shareholder, will have two.

EPF and FFP, with a combined stake of around 6.1%, committed to a lock-up until
the 3rd anniversary of the closing date. They will be the only reference
shareholders allowed to buy up to 2.5% of the combined entity share capital
during the 7 years following the closing.

Jean-Philippe Peugeot, Chairman and CEO of EPF declared: "The Peugeot family
group has been supporting Peugeot SA since its foundation and renews its
confidence in the team led by Carlos Tavarès to create a leader in sustainable
mobility."

Robert Peugeot, Chairman and CEO of FFP added: "As a long term investor, FFP is
proud to contribute to the transformation of its historical asset which will be
placed in a better position to develop its iconic brands".

Zaoui & Co acted as the sole financial advisor and Cabinet Bompoint as sole
French legal advisor to EPF and FFP.

About FFP:
FFP is an investment company listed on Euronext, majority-owned by
Etablissements Peugeot Frères and managed by Robert Peugeot. FFP is one of the
leading shareholders of Peugeot SA and pursues a minority shareholdings and
long-term investment policy. FFP holds participations in listed companies (SEB,
Safran, ORPEA, LISI or SPIE), non-listed companies (Tikehau Capital Advisors,
Actéon or Total-Eren), co-investments (IHS or JAB Holding), private equity
funds and real estate (SIGNA Prime Selection or Immobilière Dassault).

Investors relation:
Sébastien Coquard: +33 1 84 13 87 20
sebastien.coquard@groupe-ffp.fr

www.groupe-FFP.fr

Press contact :
Pierre Zajdela: +33 6 14 10 24 09
Pierre.zajdela@havas.com

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