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Renault-FCA merger 'behind us', French carmaker says

Renault-FCA merger 'behind us', French carmaker says
FILE PHOTO: The logo of French car manufacturer Renault is seen at a dealership of the company in Bordeaux, France, June 12, 2019. REUTERS/Regis Duvignau -
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REGIS DUVIGNAU(Reuters)
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PARIS (Reuters) – Fiat Chrysler’s <FCHA.MI> $35 billion (28 billion pounds) merger offer for Renault, which was abandoned in June, was no longer on the table, the French carmaker’s Chairman Jean-Dominique Senard said on Tuesday.

“This matter is behind us today,” Senard told a hearing in the French senate, echoing similar remarks by Renault’s CEO Thierry Bollore earlier in September.

Senard said the merger project would have benefited the carmaker’s alliance with Japan’s Nissan <7201.T>, giving it a more global dimension, but added that it was not a likely scenario at present.

“The matter is not on the table today. If (the project) were to come back one day on terms and conditions that would be acceptable for all parties I’d be delighted. But it’s not in the works,” he said.

(Reporting by Gilles Guillaume; Writing by Sarah White; Editing by GV De Clercq)

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