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The $53.3 billion merger will consolidate 14 manufacturers, and ultimately form the world’s fourth largest automotive group.
A high-profile merger between FCA (Fiat-Chrysler) and PSA (Peugeot-Citroën) is reportedly set for approval by the European Commission.
News outlet Reuters reported earlier this week that sources close to the matter confirmed the approval was imminent.
Headquartered in the Netherlands, the eventual conglomerate – to be known as Stellantis – will comprise Citroën, Chrysler, Peugeot, Fiat, Dodge, Abarth, Alfa Romeo, DS, Jeep, Lancia, Maserati, Opel, Ram, and Vauxhall.
The US$38 billion (AU$53.3 billion) consolidation will effectively establish the world’s fourth largest automotive manufacturer.
Existing company heads – John Elkann (FCA) and Carlos Tavares (PSA) – will serve as Chairman and CEO respectively.
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