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“The aim of those changes is to reinforce the balance sheet structure of both companies after the COVID-19 crisis and ensure that the merger plan is concluded as soon as possible,” the source said.
FCA (MI:FCHA) will cut to 3 billion euros the cash portion of a special dividend its shareholders are set to receive under the terms of the merger accord, the source said.
France’s PSA, in turn, will scrap the spin-off of its 46% stake in Faurecia, the source added.
PSA was not immediately available for comment. FCA declined to comment.
