December 18, 2019 / 8:52 AM / a month ago

Fiat Chrysler to meet unions Friday to discuss PSA merger deal

MILAN (Reuters) - Fiat Chrysler (FCHA.MI) will meet Italian trade unions in Turin on Friday to discuss the details of a merger deal with French rival PSA (PEUP.PA), the FIM-CISL union said on Wednesday.

Fiat Chrysler (FCA) and PSA said on Wednesday they had agreed a binding $50 billion (£38.9 billion) merger to create the world’s fourth-largest carmaker.

FIM-CISL said in a statement union representatives would go into the agreement details on Friday and start talks to guarantee Italian plants’ development and jobs.

FCA has said it expects 3.7 billion euros in annual synergies from the merger with no plant closures.

The union said it welcomed the decision of the two automakers to include two union representatives - one from Italy and one from France - to the 11-strong board of the merged group.

Reporting by Giulio Piovaccari; editing by Jason Neely

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