PSA has an offer for Toyota, whereby helping the latter to boost so as to “address EU antitrust concerns” raised towards its plans in association with Fiat Chrysler.
PSA has offered help to Toyota for increasing its “production capacity” in its “van joint venture”, revealed a source, while another source informed Reuters that the sale of the vans will be “close to cost price”. PSA and Toyota have been in collaboration for vans manufacturing from 2012, whereby the plant is located in the northern part of France.
PSA has also submitted its offer before the EU which came after a gap of three months following EU starting “a full-scale investigation into the deal with FCA FCHA.MI” stating that it would “hurt competition in small vans in 14 EU countries and Britain”. In a joint statement, FCA and PSA stated:
“As of now, the transaction has obtained merger clearance in fourteen jurisdictions. As previously stated, closing of the transaction is expected to occur in the first quarter of 2021”.
While, the executive from EU noted:
“The deadline is still suspended. This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them”.
According to Reuters:
“It is now expected to seek feedback from customers and rivals before deciding whether to demand more concessions, or either clear or block the deal”.
References:
reuters.com
PSA has offered help to Toyota for increasing its “production capacity” in its “van joint venture”, revealed a source, while another source informed Reuters that the sale of the vans will be “close to cost price”. PSA and Toyota have been in collaboration for vans manufacturing from 2012, whereby the plant is located in the northern part of France.
PSA has also submitted its offer before the EU which came after a gap of three months following EU starting “a full-scale investigation into the deal with FCA FCHA.MI” stating that it would “hurt competition in small vans in 14 EU countries and Britain”. In a joint statement, FCA and PSA stated:
“As of now, the transaction has obtained merger clearance in fourteen jurisdictions. As previously stated, closing of the transaction is expected to occur in the first quarter of 2021”.
While, the executive from EU noted:
“The deadline is still suspended. This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them”.
According to Reuters:
“It is now expected to seek feedback from customers and rivals before deciding whether to demand more concessions, or either clear or block the deal”.
References:
reuters.com