Peugeot And Fiat Chrysler Sign Merger Deal

Automakers PSA Group (Peugeot-Citroen) and Fiat Chrysler Automobiles (FCA) have completed a merger, the combined company is called Stellantis, according to a press release by Stellantis.

« The merger of Peugeot SA and Fiat Chrysler Automobiles has entered into force, leading to the creation of Stellantis NV (Stellantis), » the statement said.

It is noted that Stellantis shares will start trading on the Euronext exchange in Paris and Mercato Telematico Azionario in Milan on Monday, January 18, and on the New York Stock Exchange on Tuesday, January 19.

In late October 2019, the boards of FCA and PSA unanimously agreed to work on a business merger, and in mid-December 2019 the companies signed a merger agreement on a parity basis. On 4 January 2021, shareholders of Fiat Chrysler and PSA approved the merger of the companies.

Fiat was founded in 1899 and manufactures cars under the Fiat, Lancia, Alfa Romeo, Abarth, Ferrari and Maserati brands. PSA (formerly PSA Peugeot-Citroen) is Europe’s second largest passenger car manufacturer after Volkswagen AG. Its headquarters is located in Paris. The concern was formed by Peugeot buying a 90% stake in Citroen in 1976.

source: ft.com

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