Merger seeks shareholder approval
- 04/01/2021
- Posted by: Alan Feldberg
- Category: News
Fiat Chrysler and the PSA Group are seeking shareholder approval today for their proposed merger.
Approval would create the world’s fourth largest car manufacturer.
The new company, which would bring together 14 brands including Peugeot, Citroen and Vauxhall from PSA Group and Fiat, Jeep and Chrysler, will be called Stellantis.
The merger is expected to bring significant cost savings, but PSA insisted it would not close factories.
The deal is expected to be completed by the end of March.
