The merger between Fiat Chrysler and PSA Group in France is facing hurdles as the two companies seek full shareholder approval. These obstacles are considered final as the other points have agreed.
The deal, if reached, would create the fourth largest carmaker in the world. This idea for the agreement has been under discussion for two years.
The companies that are expected to combine with each other will bring well-known brands such as Peugeot, Citroen and Vauxhall from PSA to Fiat, Jeep and Chrysler, writes the BBC.
The company in case of agreement will have 52 billion dollars and will be called Stellantis. Leaders expect the merger to be finalized by the end of March while saying it will create significant cost savings.
The deal has raised concerns about the closure of some factories such as Vauxhall's which has around 3.000 workers.
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Fiat-Chrysler and PSA recorded profits in the "pandemic year"
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Stellantisi started production, in the foreground are the suburban areas
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The agreement between Fiat and PSA Group is reached
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The Stellantis factory in Russia is running out of parts
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Stellantis signed a 12 billion euro credit facility with 29 banks