New revolution in the Italian (and European) automotive sector. After months of negotiations, also complicated by the current pandemic from Covid-19, 16st January last the group was born stellantis, From merger of FCA (Fiat Chrysler) and PSA (Peugeot family). It is one of the largest operations that led to the creation of what will be the fourth largest automotive group in the world. The main shareholder will be Exorand Agnelli family (Fiat) with the 14,4% of the capital e 449.410.092 shares (as stated in the official press release published by Exor). They follow the family Peugeot , the French state and the Chinese D with (respectively) the 7,2%, 6,2% and 5,6% of the capital. Starting from Monday 18 January, the Stellantis group (FLOORS) will also be listed on the Electronic Stock Market di Milano and onEuronext di Paris. The following day will arrive instead on the New York Stock Exchange di Wall Street.
Stellantis: 20 brands in one large European group
Naturally, the merger of FCA and PSA therefore led to the merger of 20 major automotive brands in one group. The brands in question are: Abarth, Alfa Romeo, Chrysler, Citroën, Comau, Dodge, DS Automobiles, FIAT, FIAT Professional, Free2Move (car sharing service belonging to the PSA group), Jeep, spear, Maserati, Mopar, Opel, Peugeot , RAM, SRT, Teksid e Vauxhall. President of Stellantis will be John Elkann (former president of FCA), while Carlos Tavares, formerly CEO of PSA, will be the new CEO.
Despite the great opportunity, in financial terms, that the birth of Stellantis could exploit, there was no lack of doubts on the group's strategies. In fact, some uncertainties concern the closure of factories and the risks for Italian workers. In the documents filed with the stock exchanges on which Stellantis will be listed, there is no mention of "merger", but of "acquisition of FCA by PSA". This means that the French group will hold the reins of Stellantis. Hence the concerns for Italian workers on layoffs and the closure of some local factories. It is therefore not yet clear what the will be Stellantis strategies and what will become of the factories in Italy. To dispel any doubts, however, it will be necessary to wait for the company's business plan, which should be disclosed in the coming months.
Featured photo: © Stellantis (Facebook page).
