PSA and Fiat Chrysler Wins EU Antitrust Approval for $38 Billion Merger

French giant PSA and Fiat Chrysler gained European Union antitrust approval on Monday morning for their $38 billion merger to create the world’s number 4 carmaker after pledging to boost Japanese rival Toyota Motor.

French giant PSA and Fiat Chrysler gained European Union antitrust approval on Monday morning for their $38 billion merger to create the world’s number 4 carmaker after pledging to boost Japanese rival Toyota Motor.

In a statement, the European Commission said that PSA will extend its small van agreement with Toyota Motor by increasing capacity for the Japanese automaker and cutting transfer prices for the vehicles, spare parts and accessories to address the bloc’s competition concerns.

“Access to a competitive market for small commercial vans is important for many self-employed and small and medium companies throughout Europe,” European Competition Commissioner Margrethe Vestager said in a statement.

Fiat and PSA will also allow rivals to access their repair and maintenance networks for vans to help new entrants expand in the market, the bloc’s competition enforcer said.

The merged entity to be called Stellantis would own brands such as Jeep, Peugeot, DS, Ram and Maserati, Fiat and Opel. “FCA and Groupe PSA warmly welcome the European Commission’s clearance authorizing the merger and the creation of Stellantis, a world leader in new mobility,” the companies said.


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