Stellantis will make its public debut later this month
After gaining the European Commission's approval in October 2020, Fiat Chrysler (FCA) and PSA Groupe took another essential step to create Stellantis.
Earlier this week, in two separate extraordinary shareholder meetings, investors in each group voted in favor of the merger, with approval rates above 99% of the voters expressed.
Now that investors gave their vote of confidence, the world's fourth-largest automaker will be created. With an annual production of roughly 8 million vehicles globally and revenues that top $203 billion, Stellantis is expected to play a significant part in the electrification of the automotive industry.
FCA and PSA expect the deal to complete by January 16. On January 18, Stellantis will be available for trading in Milan and Paris, and New York on the next day.
After the news hit the wire, Fiat Chrysler stock price ended 0.55% higher, while PSA added 0.62%.
Read more about the deal here!
Sources: reuters.com, cnbc.com
This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com
JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.