EU regulators to decide on $50 billion Fiat and Peugeot deal by June 17

EU antitrust regulators will make a decision by June 17 whether to clear Fiat Chrysler and Peugeot maker PSA’s $50 billion merger, according to a European Commission filing on Monday.

The companies declared the deal to form the world’s fourth biggest automaker in December, putting under one roof the Italian company’s brands including Fiat, Jeep, Dodge, Ram, Maserati and the French company’s Peugeot, Opel and DS.

Fiat and PSA sought EU approval on Friday, the Commission site revealed.

EU competition enforcers can authorize the deal with or without conditions or start a full-scale investigation of about four months after the end of the preliminary review should they have serious concerns.

The deal comes amidst declining car sales throughout the world as companies shut down production lines and showrooms to control the spread of the coronavirus outbreak, although some companies are resuming plants as countries ease lockdowns.