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.

The new company is expected to deliver combined revenues of about €170 billion and a market cap of about $50 billion, according to Bloomberg.

Leading for Peugeot SA – which also owns the Citroen and Vauxhall brands – are Linklaters and elite French firm Bredin Prat. The Magic Circle firm deployed a team led by Paris-based antitrust partners Anne Wachsmann and Thomas Elkins, according to a person with knowledge of the deal. Meanwhile, Bredin Prat provided corporate advice with Paris partners Benjamin Kanovitch and Kate Romain leading, the person added.

U.S 'white shoe' firm Sullivan & Cromwell is leading for longtime client Fiat Chrysler, fielding a team led by New York-based corporate partner Scott Miller, along with London-based European counsel Oderisio de Vito Piscicelli, according to a person with knowledge of the merger.

French firm Darrois Villey Maillot Brochier is also acting for Fiat Chrysler with a team led by Paris-based corporate partners Jean-Michel Darrois, Marcus Billam and Bertrand Cardi, the firm confirmed.

The proposed merger comes just five months after the failed merger talks between Fiat Chrysler and Renault, which saw Sullivan & Cromwell taking the mandate for Fiat, with Skadden Arps, Slate, Meagher & Flom leading for the French carmaker.

In 2014, Sullivan & Cromwell advised Fiat on its original takeover of U.S. auto manufacturer Chrysler in a deal worth $4.4 billion.

In 2017, Linklaters and Bredin Prat also advised on the sale of General Motors' European subsidiary Opel to Peugeot.