Fiat Chrysler Automobiles and Peugeot maker PSA Group are aiming to sign a formal agreement next week to combine into the world's fourth-biggest car manufacturer, according to people familiar with the matter.

The Master Group Corporation (Asia) Co Ltd has acquired another automobile brand under its umbrella , becoming the official distributor for Peugeot, through its subsidiary Belfort Automobile (Thailand) Co Ltd (Peugeot Thailand).