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  • Fiat, Chrysler and P S a looks set to win you approval for a $38 billion merger that would create the world's number four car maker.

  • That's according to sources close to the matter.

  • The automakers hope the tie up will help fund a shift to cleaner vehicles.

  • If the EU gives the go ahead, it would formalize the creation of a group called Stella Antis.

  • It could use profits made from selling pickup trucks and SUVs in the U.

  • S to pay for the development of zero emission vehicles for sale in Europe and China.

  • The all share merger was announced late last year on would unite brands such as Fiat, Jeep and Dodge with the likes of Persia and Citrine.

  • It would also aim to make annual cost cuts of $6 billion without closing factories.

  • To allay EU antitrust concerns, P S.

  • A has offered to strengthen Japanese rival Toyota, with which it has a joint van venture by ramping up production and selling vans that close to cost price.

  • FC A and P S A will also allow their dealers in certain cities to repair rival brands.

  • The sources said that you decision could come by the end of the year ahead of the official deadline of February 2nd.

  • The two automakers have said they hoped to complete the merger by the first quarter next year.

  • The European Commission and Italian American group Fiat Chrysler declined to comment.

  • Francis P.

  • Ece also did not immediately respond.

  • Chairs were up in both companies Monday.

  • P S A rose around 3% while Fiat Chrysler gained as much as 6%.

Fiat, Chrysler and P S a looks set to win you approval for a $38 billion merger that would create the world's number four car maker.

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Fiat, PSA to win EU approval for merger - sources

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    林宜悉 posted on 2020/10/28
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