Fiat Chrysler Automobiles and PSA Group are pushing for an early completion of the merger, as disruptions in the automotive industry accelerate their efforts to realize synergies from the merger. The two companies, which will become the world’s fourth-largest carmaker after the merger, are aiming to close the deal by the end of January.
The European Antitrust Agency is expected to make a decision by the end of the year, but if the schedule shifts, the companies still intend to hold a meeting on January 4 to get shareholder approval.
According to available information, Fiat Chrysler and PSA are seeking to complete the merger and continue to work on savings from cooperation as one company under the name Stellantis. Representatives of PSA and FCA confirmed the goal to complete the merger in the first quarter of next year.
The two automakers, which have a combined market value of about 42 billion euros, said in regulatory filings last month that their Dutch parent company will be listed on Euronext Paris, Borsa Italiana Milan and the New York Stock Exchange.
Stellantis will announce its full management structure as early as next month, with Fiat Chrysler CEO Mike Manley expected to remain in a key role. PSA’s Carlos Tavares has already been appointed CEO of the combined company.