“The combined company will be the fourth in the world in terms of production and third in revenue,” the report said.
It is expected to sell 8.7 million cars a year, total revenues of € 170 billion, and operating profit of more than € 11 billion.
It is estimated that 46% of revenue will come from Europe, 43% from North America.
The Executive Director of the new venture will be Groupe PSA President Carlos Tavares.
Fiat produces cars under the brands Fiat, Lancia, Alfa Romeo, Abarth, Ferrari and Maserati. PSA was formed by buying Peugeot 90% stake in Citroen.
In August, Japanese Toyota Motor Corporation and Suzuki agreed to form an alliance.