BRUSSELS -- Fiat Chrysler Automobiles CEO Michael Manley said merger talks with PSA Group to create the world's No. 4 automaker are progressing well and he hopes to have a deal sealed within 12 to 14 months.
Speaking to Reuters on the sidelines of an industry meeting on Wednesday, Manley said he does not expect any major obstacles that could delay a final agreement.
"Talks are progressing really well," Manley said about negotiations with the French automaker.
His comments come a month after the two automakers agreed a binding deal to combine forces in a deal worth about $50 billion in response to a slowdown in global demand and mounting costs of making cleaner vehicles amid tighter emissions regulations.