The Netherlands and Germany will begin formal negotiations for the merger of the two companies on Monday, the Dutch-based company Axios reported.
The deal will mark the first major corporate transaction between the two nations since the country’s financial crisis hit.
Axios also reported Monday that the merger will not affect the current joint venture between the Dutch government and the German government.
The merger would result in a larger, more diversified Dutch-Germany corporation.
The Dutch government will also retain a majority stake in the new company.
Germany has been working to build a larger corporate presence in the Netherlands and has long sought to create a more competitive company.