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Stellantis will be the new call by Italian carmaker Fiat Chrysler and French group PSA after the conclusion of a 50-50 merger agreement.
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FIAT AND PSA AGREE MERGER AFTER DIVIDEND COURT REPORT
Stellantis has its roots in the Latin verb ‘stello’ that ‘illuminate with stars’.
“It builds on this ambitious new lineup of historic automotive brands and strong corporate cultures that, by coming together, create one of the new leaders of the next era of mobility while preserving all the exceptional prices and prices of their constituent parts,” the corporations said on a joint Wednesday.
Stellantis will be used exclusively as a corporate brand, while the names and logos of the group’s constituent brands, including Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, Maserati, Ram, Peugeot, Opel and DS, will remain unchanged after the final touch. merger agreement.
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According to the press release, the procedure for identifying the new call for the merged company began following the announcement of the $50 billion agreement in October. The agreement, officially signed in December, is expected to create the world’s fourth-largest car manufacturer by volume and result in annual savings of around 3.7 billion euros, or $4.22 billion.
The next step in the proceedings will be the presentation of the merged company official at a later date.
The merger is expected to close in the first quarter of 2021 after the approval of the corporations’ shareholders and the antitrust and regulatory requirements of the assembly.
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Quotes with delay of at least 15 minutes. Real-time quote via BATS BZX Real-Time Price. Knowledge of the market through Interactive Data (General Conditions). Developed and implemented through interactive data management solutions. Basics of the company through Morningstar. Knowledge of revenue estimation through Zacks. Knowledge of mutual funds and ETFs through Lipper. Economic knowledge through Econoday. Dow Jones and Company Terms and Conditions.
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