The giant merger of 52 billion dollars has been completed!
The merger process of the Italian-American partner FCA and the French manufacturer PSA has been completed for a year. According to the statement, with the completion of the 52 billion dollar merger of the two groups, the world’s fourth-largest automotive group, named Stellantis, started operations. The coalition, which is stated to save $ 6 billion for the two groups, turned Stellantis into a group that sells 8.1 million vehicles annually.
The merger, which has been awaited for a while in the automotive industry, has finally occurred. Fiat Chrysler (FCA) and PSA announced the completion of the merger.
Thus, the two companies formed the fourth largest automotive group under a new company called Stelllantis.
When the process has been going on for one year, the Italian-American partner FCA and the French manufacturer PSA agreed to $ 52 billion.
Stellaris, which emerged with the two groups’ merger, became a group that sold 8.1 million vehicles annually.
The statement said, “The merger between PSA and Fiat Chrysler Automobiles (FCA) that will pave the way to the creation of Stellantis took place today.”
WILL SAVE 6 BILLION DOLLARS PER YEAR
With the merger of the two companies, Peugeot, Citroen, DS, Opel, Fiat, Alfa Romeo, Maserati, Lancia, Jeep, Dodge, Chrysler, Ram came together under the same roof. FCA and PSA stated that companies would achieve savings of 6 billion dollars per year before the existing factories of these brands are closed with the merger decision.
It is also stated that Stellantis will start to be traded on Milan, Paris, and New York stock exchanges.
Analysts state that Stellantis, like other automotive manufacturers, should invest billions of dollars in the development of electric vehicles in the upcoming period. It is also underlined that the group must be more active in the Chinese market to get more shares from the global market.
After the merger decision, FCA CEO Mike Manley was appointed head of the group’s North American operations. PSA CEO Carlos Tavares took over as CEO of Stellaris.
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