Fiat Chrysler Automobiles and Groupe PSA, Peugeot’s parent company, will receive approval from the European Commission for their billion-dollar merger, sources report Monday. The amalgamation creates the world’s fourth-largest car manufacturer.
After the merger, the two groups will continue together as Stellantis. Last summer, the merger investigation was temporarily suspended. The parties had not provided enough information. Suspending the investigation moved the deadline for Brussels to pass judgment on the intended merger. That deadline was set for mid-November.
The investigation focused on whether competition in the van market in 14 EU countries and the United Kingdom would be limited by the merger of the car manufacturers.
The intention is to complete the merger early next year. Car brands such as Fiat, Alfa Romeo, Jeep, Dodge, Ram and Maserati then belong to the same company as Peugeot, Citroën and Opel.