Fiat Chrysler to meet unions Friday to discuss PSA merger deal

FILE PHOTO: Logos of Peugeot and Fiat are seen in this illustration picture taken October 31, 2019. REUTERS/Regis Duvignau/Illustration

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 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 ($4.1 billion) 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