The forthcoming merger of Groupe PSA and Fiat Chrysler Automobiles to become Stellantis took a step closer to reality today (Nov 20).
The new company is registered in the Netherlands, and both manufacturer groups issued a statement via Fiat Chrysler Automobiles (FCA) saying the country’s authority for financial markets had approved their shares prospectus for listing and trading FCA shares in Europe.
The shares will be renamed Stellantis, with the supergroup Stellantis listed on the stock exchanges of Milan, New York and Paris.
The $50bn deal – announced in October 2019 – is expected to go through during the first quarter of 2021.
Stellantis – which comes from the Latin verb ‘stello’, meaning ‘to brighten with stars’ – will be a corporate brand, with the names and logos of the supergroup’s 14 vehicle marques staying as they are.