The shareholders of Groupe PSA and Fiat Chrysler Automobiles have agreed to the merger of both groups into Stellantis. The final merger now seems to be soon in coming.
The last really big hurdle for merging PSA and FCA has been cleared. Today the groups discussed the merger with their shareholders and in both cases a large majority voted in favor. That message Automotive News. Both PSA and FCA voted more than 99 percent in favor of the merger.
Now the question is when the meeting to Stellantis will be finalized. PSA CEO Carlos Tavares, who will also become CEO of Stellantis, will reportedly clarify this soon. All lights are now in any case green. Stellantis will eventually consist of no fewer than 14 car brands, including Peugeot, Citroën, Opel, Fiat, Alfa Romeo and Jeep.
The merger will cost a total of no less than € 42 billion. Obviously an enormous amount, but it does yield the fourth largest car company in the world. The largest shareholders are the Agnelli family (FCA) and the Peugeot family (PSA) with 14.4 percent and 7.2 percent share respectively. The French state and the Chinese car giant Dongfeng Motor Group are also major shareholders. Stellantis is also registered in the Netherlands and will also pay tax here.