PSA and Fiat Chrysler married to become the world’s fourth largest automotive group

Posted on Jan 4, 2021 at 6:00 amUpdated Jan 4, 2021, 11:28 AM

No buffet of small fours or rounds of applause for speeches. For health security reasons, the last general assembly in the history of PSA, Monday, is held behind closed doors. It is therefore by video conference and postal vote that the shareholders are called to vote to approve the disappearance of Peugeot Société Anonyme, by merging it with Fiat Chrysler (FCA) to give birth to the world’s fourth car manufacturer, which will be called ” Stellantis ”. The holders of securities of the Italian-American group must simultaneously record the same decision.

If remote retransmission takes away a lot from the solemnity of the moment, it will be no less historic. Once united, the two groups with centuries-old roots will weigh 8 million cars produced each year. “We are experiencing the biggest merger in the automotive industry since its inception”,underlines Louis Gallois, chairman of the supervisory board of the French group, who will retire once the transaction is completed.

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