Fiat Chrysler CEO: Peugeot merger talks progressing well

BRUSSELS: Fiat Chrysler's chief executive Michael Manley said on Wednesday merger talks with Peugeot owner PSA 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 US$50 billion in response to a slowdown in global demand and mounting costs of making cleaner vehicles amid tighter emissions regulations.

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