Fiat Chrysler CEO: Peugeot merger talks progressing well

By Edward Taylor

BRUSSELS (Reuters) – Fiat Chrysler’s (MI:) chief executive Michael Manley said on Wednesday merger talks with Peugeot owner PSA (PA:) to create the world’s No. 4 carmaker are progressing well and he hopes to have a deal sealed within 12-14 months.

Speaking to Reuters on the sidelines of an industry meeting, he said he doesn’t expect any major obstacles that could delay a final agreement.

“Talks are progressing really well,” Manley said about negotiations with the French carmaker.

His comments come a month after the two carmakers agreed a binding deal to combine forces in a deal worth about $50 billion in response to a slowdown in global demand and mounting costs of making cleaner vehicles amid tighter emissions regulations.

(GRAPHIC – Fiat Chrysler vs Peugeot in a snapshot: https://fingfx.thomsonreuters.com/gfx/mkt/12/7993/7924/FIAT%20PSA.jpg)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.