June 25, 2020 / 9:25 AM / 17 days ago

BRIEF-PSA, Fiat Chrysler on track to finalise merger in Q1 2021 - PSA CEO

June 25 (Reuters) - PSA CEO CARLOS TAVARES TELLS THE ANNUAL SHAEHOLDERS MEETING:

* WILL CONTINUE TO IMPROVE COST STRUCTURE IN FACE OF CHALLENGES OF CORONAVIRUS CRISIS

* SAYS LOWERING BREAKEVEN POINT TO 53% OF SALES IS A VERY GOOD ADVANTAGE IN THIS TYPE OF CRISIS

* SAYS SYNERGIES OF 3.7 BILLION EUROS FROM PLANNED MERGER WITH FIAT CHRYSLER IS ONLY A “FLOOR”

* SAYS SCHEDULE OF PLANNED MERGER WITH FIAT CHRYSLER IS BEING “STRICTLY RESPECTED”, WE ARE ON TRACK TO FINALISE DEAL IN Q1 AT LATEST Source text for Eikon: Further company coverage: (Reporting By Dominique Vidalon)

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