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Automakers Fiat Chrysler, PSA complete merger

Automakers Fiat Chrysler, PSA complete merger
Italian-American, French companies form new entity named Stellantis

By Gokhan Ergocun

ISTANBUL (AA) – Fiat Chrysler (FCA) and France’s Groupe PSA have completed their merger to create Stellantis, a joint press release said on Saturday.

FCA, an Italian-American carmaker, and PSA, which owns Peugeot, Citroen and Opel, first announced the move in October 2019.

“Stellantis’ common shares will begin trading on Euronext in Paris and the Mercato Telematico Azionario in Milan on Monday, January 18, 2021, and on the New York Stock Exchange on Tuesday, January 19, 2021, in each case under the ticker symbol STLA,” the statement said.

FCA previously proposed a similar merger with Renault, but the idea was turned down by the French automobile manufacturer.

source: News Feed
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