MILAN/PARIS -- Fiat Chrysler and PSA Group told their employees they would sign a binding merger agreement in coming weeks.
In two separate communications through internal channels, obtained by Reuters on Tuesday, the two groups told employees that more than 50 people were involved in the process.
Nine working groups were established, led by FCA Group Treasurer and Global Head of Business Development David Ostermann, and by PSA Executive Vice President Program and Strategy Olivier Bourges, the documents said.
FCA and PSA are working to finalize a merger that would create the world's fourth-largest carmaker.
FCA Chairman John Elkann last week said he was not worried by a U.S. racketeering lawsuit by General Motors against FCA and that he was confident of reaching a binding merger deal with Peugeot owner PSA by the end of this year. FCA faces potentially billions of dollars in liabilities arising from the 95-page lawsuit, which claims FCA used bribes to top UAW officials to obtain a competitive advantage over GM in terms of labor costs.
