Exclusive: EU antitrust regulators set to clear Fiat-PSA merger – sources

© Reuters.

BRUSSELS/MILAN (Reuters) – EU antitrust regulators are set to clear the merger of Fiat Chrysler (FCA) (MI:) and France’s PSA (PA:) to create the world’s fourth-largest carmaker, people familiar with the matter said, after they pledged to reinforce Japanese rival Toyota (T:).

The all-share merger agreement announced late last year would create a company worth about $38 billion (29 billion pounds) and unite brands such as Fiat, Jeep, Dodge, Ram and Maserati with the likes of Peugeot , Opel and DS – while targeting annual cost cuts of 5 billion euros (4.5 billion pounds) without closing factories.

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