However, Exor, the Agnelli family company that was the largest shareholder of FCA, will hold the largest stake in Stellantis with 14.4 percent. PSA shareholders have also paid a pre-merger premium to FCA shareholders. He will also have a five-year term as Stellantis CEO.
LUCID STOCK SYMBOL FULL
Additionally, the new company's first CEO, who is vested with the full authority to individually represent Stellantis, is Carlos Tavares, the former president of the PSA managing board as well as former CEO of PSA Group. in subsequent filings will represent the historicalįinancial statements of PSA." The filing notes the Stellantis board will have 11 directors, six from PSA and five from Fiat Chrysler. is the acquirer for accounting purposes.” and "As a result, the financial statements of Stellantis N.V. “Based on the assessment of the indicators under IFRS 3 accounting standard and consideration of all pertinent facts and circumstances, FCA and PSA’s management determined that Peugeot S.A. On 17 January 2021, the combinedĬompany was renamed Stellantis N.V" International Financial Reporting Standards, or IFRS, mandate the identification of the company acting as the acquirer and the company being acquired. (“PSA”) merged with and into Fiat Chrysler Automobiles N.V., with Fiat Chrysler Automobiles N.V. Common shares of the new company began trading on the Milan Stock Exchange (MTA) and Euronext Paris on 18 January 2021 and on the New York Stock Exchange on 19 January 2021, in each case under the ticker symbol "STLA". The merger was approved on 4 January 2021 by the shareholders of both FCA and PSA and the deal completed on 16 January 2021. On 21 December 2020, the European Commission announced its approval of the merger, while imposing minimal remedies to ensure competition in the sector. The merger, officially agreed in December 2019, was to create the world's fourth-largest carmaker by global vehicle sales with expected annual cost savings of €3.7 billion, or approximately $4.22 billion. Nissan also had various concerns of the impact of the proposal on its alliance with Renault. However, the behaviour of the French government during negotiations led to the abandonment of the deal The Economist reported that "for FCA this portended future interference". In early 2019, Fiat Chrysler Automobiles (FCA) sought a merger with French automaker Renault and reached a provisional agreement with the company. It means "(of him/her/it that) brightens with stars". The name comes from the Latin verb stello. At the time of the merger, Stellantis had approximately 300,000 employees, a presence in more than 130 countries with manufacturing facilities in 30 countries. The principal activity of Stellantis is the design, development, manufacture and sale of automobiles bearing its 16 brands of Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Fiat Professional, Jeep, Lancia, Maserati, Mopar, Opel, Peugeot, Ram and Vauxhall. The primary listings for the company's stock are on Milan's Borsa Italiana and on Euronext Paris.
In terms of global vehicle sales in 2021, Stellantis was the world's fifth largest automaker behind Toyota, Volkswagen, Hyundai, and General Motors. The company is headquartered in Amsterdam.
is a multinational automotive manufacturing corporation formed in 2021 on the basis of a 50-50 cross-border merger between the Italian-American conglomerate Fiat Chrysler Automobiles (FCA) and the French PSA Group.