Carey counsels Fiat Chrysler on merger with Peugeot
Carey has advised Fiat Chrysler before Chilean authorities on the €40 billion merger
Carey steered Fiat Chrysler Automobiles in the mandatory merger control procedure before the National Economic Prosecutor (FNE) in Chile, regarding its global strategic cross-border merger with Peugeot. The combination of businesses will result in a new company named Stellantis, becoming the fourth largest OEM in the world. The operation was conditionally approved subject to the compliance of mitigation measures.
This alliance is one of the most relevant mergers in the history of the automotive industry. The separate corporate existence of PSA will cease to exist, and FCA will continue as the surviving company which will, as of the consummation of the merger, will be named as Stellantis. The operation is that Stellantis will be well prepared for the current and new challenges of such industry, especially regarding the development and consolidation of connected, electrified, shared and autonomous mobility technologies. The transaction was subject to antitrust merger approval in several jurisdictions. In Chile, the FNE’s analysis of the merger was extensive (from early March to December 31st, 2020), finishing in Phase II of review stage.
Carey acted as local counsel to Fiat Chrysler Automobiles with a team led by partner Lorena Pavic (pictured), and which involved associates José Pardo and Gonzalo Soto.
Sullivan & Cromwell were in charge of the global advise with a team led by partner Juan Rodríguez and European counsel Axel Beckmerhagen.
Fiat Chrysler Automobiles Latam in-house lawyer Gustavo Redo Monteiro also intervened in the operation.
Morales & Besa acted as local counsel to Peugeot with a team led by partner María José Hernández Gutiérrez, and which involved associates Claudia Arce Ojeda and Benjamín González Cortés.
Linklaters acted as global counsel to Peugeot with a team formed by partners Thomas Elkins and Anne Wachsmann, counsel Nicholas Zacharie, managing associate Sara Gil García, and associate Camille Coulon.
