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EXCLUSIVE-EU antitrust regulators set to clear Fiat-PSA merger -sources

Credit: REUTERS/STEPHANE MAHE

EU antitrust regulators are set to clear the merger of Fiat Chrysler (FCA) and France's PSA to create the world's fourth-largest carmaker, people familiar with the matter said, after they pledged to reinforce Japanese rival Toyota.

BRUSSELS/MILAN, Oct 26 (Reuters) - EU antitrust regulators are set to clear the merger of Fiat Chrysler (FCA) FCHA.MI and France's PSA PEUP.PA to create the world's fourth-largest carmaker, people familiar with the matter said, after they pledged to reinforce Japanese rival Toyota 7203.T.

The all-share merger agreement announced late last year would create a company worth about $38 billion 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 ($5.93 billion) without closing factories.

(Reporting by Foo Yun Chee in Brussels and Giulio Piovaccari in Milan, additional reporting by Gilles Guillaume in Paris, writing by Nick Carey; editing by Jason Neely)

((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net))

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