Timeline: Fiat Chrysler and Peugeot merger marks next round of consolidation

(Reuters) - Fiat Chrysler and Peugeot maker PSA on Wednesday reached a binding agreement for their roughly $50 billion merger, as the auto industry scrambles to develop zero-emissions vehicles and tackle slowing demand.

FILE PHOTO: The logos of car manufacturers Fiat and Peugeot are seen in front of dealerships of the companies in Saint-Nazaire, France, November 8, 2019. REUTERS/Stephane Maher/File Photo

Following is a chronology of the industry’s most important alliances and merger deals:

December 2019 - Fiat Chrysler and PSA reach a binding agreement on a $50 billion tie-up to create world’s No. 4 carmaker. Aim to complete deal in 12-15 months.

October 2019 - Companies confirm talks over a potential deal.

May 2019 - Fiat Chrysler proposes a merger of equals with French rival Renault but later withdraws the idea after the French government demands concessions.

October 2018 - Honda Motor Co says it will invest $2.75 billion and take a 5.7% stake in General Motors Co’s Cruise self-driving unit.

June 2018 - Ford and Volkswagen unveil an alliance in commercial vehicles, though they say they have no plans for an equity swap or cross-ownership structure.

February 2018 - Geely Chairman Li Shufu reveals he has bought a 9.69% stake in Mercedes-Benz parent Daimler worth around $9 billion.

January 2018 - Mazda and Toyota say they will open a $1.6 billion joint venture factory in Alabama in 2021. Toyota takes a 5% stake in Mazda as part of the deal.

August 1, 2017 - General Motors sells European brands Opel and Vauxhall to PSA for 2.2 billion euros.

May 2016 - Nissan buys 34% stake in Mitsubishi Motors, handing it de facto control in a $2.2 billion deal.

January 2016 - Toyota, which already owned 51.2% of Daihatsu, buys the rest in an all-stock deal worth $3 billion.

September 2015 - Fiat Chrysler CEO Marchionne emails GM chief Mary Barra asking her to explore a combination of the two carmakers but is rebuffed.

April 2015 - French state ups Renault stake to 19.74% from 15% in a deal designed to block efforts by Nissan to increase its influence over Renault.

January 2014 - Fiat buys 41.46% of Chrysler it did not already own in a $4.35 billion deal.

July 2012 - Volkswagen takes control of Porsche.

April 2010 - Renault-Nissan boss Carlos Ghosn and Daimler CEO Dieter Zetsche unveil arms-length alliance including cross-shareholdings of around 3%.

March 2010 - China’s Zhejiang Geely Holding buys Volvo cars from Ford $1.8 billion.

2008 - India’s Tata buys Jaguar and Land Rover from Ford for $2.3 billion.

2007 - Daimler sells 80% stake in Chrysler to private equity firm Cerberus for 5.5 billion euros.

March 2000 - Ford buys Land Rover from BMW for $2.7 billion.

March 2000 - BMW sells Rover but retains ownership of Mini.

March 1999 - Renault and Nissan sign an alliance which results in Renault holding a 44.4% stake in Nissan, while Nissan bought 15% of Renault shares.

January 1999 - Ford buys Sweden’s Volvo cars for $6.45 billion.

September 1998 - Volkswagen buys Lamborghini.

July 1998 - Volkswagen buys Bentley and Bugatti.

May 1998 - Daimler-Benz buys Chrysler for $36 billion.

January 1994 - BMW buys Rover Group for 800 million pounds.

December 1990 - Czech government allows Volkswagen to buy Skoda.

June 1986 - Volkswagen buys 51% of Seat.

Reporting by Edward Taylor; Editing by David Holmes and Josephine Mason