Linklaters, Bredin Prat and Sullivan & Cromwell are among the firms advising as automotive giants Fiat Chrysler Automobiles and Peugeot SA Group propose to merge into a $50 billion enterprise.

According to an announcement made jointly by the companies today (October 31), the merger would see each carmaker take a 50% stake in the combined enterprise, which will create the fourth-largest auto manufacturer in the world, selling nearly nine million vehicles annually, the carmakers said.