Beijing time 3 news, sources familiar with the situation said that Fiat Chrysler and Peugeot Group plans to sign a final merger agreement as early as early next month. Earlier this week, the two carmakers said they planned to each take a 50 per cent stake in the combined company to create the world’s fourth-largest carmaker as it seeks to expand to cope with costly new technologies and slowing global demand.
The two carmakers aim to reach a binding agreement on a $50bn merger “in the coming weeks.”
The two groups are working to finalize all details of the merger and hope to sign a binding memorandum of understanding within “three to four weeks,” the source said.
At the same time, the source said, “this means that the final agreement will be signed in early December or by Christmas at the latest.” “This confirms some of the media reports earlier saturday, ” he said.