shareholders of the PSA Group, which produces Peugeot and Citroen cars, have agreed to merge with Fiat Chrysler, after two years of discussions.
According to Arabianet, during a meeting held on Monday, investors in the French company agreed to merge to form Stellantis, the fourth largest automaker in the world, as it prepares Fiat Chrysler shareholders to do the same later in the day, according to Bloomberg and seen by Al Arabiya.net.
The obstacles the two overcame to reach this point were so plentiful that Fiat managed to fix things after a short-term attempt to join Renault. p>
Fiat Chrysler and executives at Peugeot believe the deal will boost revenue with a size closer to resembling Volkswagen and Toyota Motor, and have greater resources to compete with emerging companies in the industry Electric cars.
shares of Peugeot and Fiat Chrysler rose 2.6% and 2.2%, respectively, in Paris and Milan, giving the two companies a combined market value of around 44 One billion euros (54 billion dollars).
