Europe

MILAN — Fiat Chrysler Automobiles and PSA Group aim to sign a final merger agreement as early as the beginning of next month, a source familiar with the matter said.

The two automakers said earlier this week they planned to join forces in a 50-50 share merger to create the world’s fourth-largest automaker, seeking scale to cope with costly new technologies and slowing global demand.

They said they aimed to reach a binding deal on the $50 billion merger “in the coming weeks.”

The source said the two groups were at work to finalize all the merger details and they hoped to sign a binding memorandum of understanding in “three-four weeks.”

“This means the final agreement should be signed by early December, or by Christmas at the latest,” the source said, confirming a report published on Saturday in La Stampa daily newspaper.

Products You May Like

Articles You May Like

Disneyland faces pressure to electrify its stinky ‘Autopia’ ride, and quick
Elon Musk sheds light on Tesla Cybertruck accelerator issue
2025 Maserati GranCabrio Folgore debuts for electric grand touring
Anaheim PD launches pilot for Tesla Model Y LR police cruisers
Tesla Cybertruck Goes Off-Road Gets Stuck On Tree And Ruins The Fun

Leave a Reply

Your email address will not be published. Required fields are marked *