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Description

Stellantis N.V. is a Dutch-based multinational automotive manufacturing corporation resulting from the merger of French automaker Groupe PSA and Italian-American automaker Fiat Chrysler Automobiles, following completion of a 50-50 merger agreement. Registered in the Netherlands, the group includes 14 brands: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram and Vauxhall. The name Stellantis is exclusively in use as a corporate brand, while its brands' names and logos remain unchanged.

History

In early 2019, FCA sought a merger with French group Renault, and reached a provisional agreement with the company. However, the French government did not support this agreement and the proposal was withdrawn.

Subsequently, FCA approached PSA. The merger, officially agreed in December 2019, created the world's fourth-largest carmaker by volume and result in an annual cost savings of about €3.7 billion, or $4.22 billion.

On 21 December 2020, the European Commission announced its approval of the merger, while imposing minimal remedies in order to ensure competition in the sector.

The merger was confirmed on 4 January 2021, after a vote of shareholders from both companies and the deal completed on 16 January 2021. The combined company will be trading its common shares on the Italian Bourse and Euronext Paris on 18 January 2021, while the listing on the New York Stock Exchange will occur on 19 January 2021, in each case under the ticker symbol "STLA".

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Alena Potapova

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