Stellantis, the automotive group created by FCA and PSA, makes its debut on the Stock Exchange

Stellantis, the automotive group created by FCA and PSA, makes its debut on the Stock Exchange

Electric propulsion, autonomous driving and connectivity are among the technological and sustainable challenges of the new group created by FCA and PSA, the fourth largest car manufacturer in the world

Borsa Italiana (Gian Mattia D'Alberto / lapresse) A journey towards the merger started with the first announcement in October 2019 and ended 15 months later, with the birth of the fourth largest automotive group in the world and the listing on three stock markets: Stellantis debuted this morning on the Milan Stock Exchange (Mta) in the Ftse Mib index and in Paris (Euronext). President John Elkann and CEO Carlos Tavares rang the opening bell of the two squares and tomorrow they will repeat the ceremony at the New York stock exchange, closed today for the Martin Luther King Day party. Stellantis was born from the merger by incorporation of Peugeot (Psa) in Fiat Chrysler Automobiles (FCA), the new entity will keep all 14 brands included in the two groups, among others some historical ones such as Fiat, Lancia, Alfa Romeo, Jeep, Abarth and Maserati.

Approved on January 4 by the two shareholders' meetings, in both cases with over 99% of the votes, the merger became effective as of last Saturday. Stellantis is positioned as the fourth largest car manufacturer in the world: the two groups would have sold 8.1 million cars together based on 2019 data. The first shareholder is Exor, the holding company of the Agnelli family, with 14.4 % of the share capital (449,410,092 shares). The board of the new company, which will be based in Amsterdam, includes nine non-executive directors in addition to Tavares and Elkann.

Electrified propulsion, autonomous driving and digital connectivity are some of the technological and sustainable challenges facing the new company, combining the skills of the two groups in the luxury, premium, passenger vehicles, SUVs, trucks and light commercial vehicles segments . The name derives from the Latin verb "stello" and means "to be illuminated with stars", while the logo represents "the spirit of optimism, energy and renewal" of the company that aims to "be one of the leaders in the new era of sustainable mobility" .

The stock (Stla) made its opening debut at € 12.758 and was also briefly suspended following increases of over 7%, which brought it to around € 13.5. "From now on, we will leverage the benefits of this € 25 billion merger to pursue strong performance and further increase shareholder value based on unparalleled competitive advantages," said Tavares. "Both directions of FCA and Psa have demonstrated their ability and reliability in completing the project and keeping their commitments ”.

The group's priority is "to achieve synergies of 5 billion euros a year", said the CEO, after the approval of the merger, as reported by Radiocor. "Stellantis begins its journey with the leadership, resources, diversity and know-how with which to build something truly unique and great, providing our customers with exceptional vehicles and mobility solutions and creating value for all our stakeholders", ensures Elkann.

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