The shareholders of the Opel parent company PSA have approved the merger with Fiat Chrysler (FCA) with an overwhelming majority. The company announced this after an extraordinary general meeting on Monday. Due to the restrictions in France due to the Covid – 19 – pandemic, there was no face-to-face event for the shareholders.

“Historic moment” “We are ready for this merger,” said PSA CEO Carlos Tavares, who is also responsible for the new association with the name “Stellantis” should lead. The date for the merger should be announced soon. The top manager, who is from Portugal, said two healthy companies are merging. “This is a historic moment.”

The EU competition authorities approved the merger in December with certain conditions. With the merger, the fourth largest car company in the world is to be created. The new association with large pillars in Europe and North America will lead 14 brands, including Opel, Peugeot, Citroën, Chrysler, Jeep, Alfa Romeo, Lancia, Abarth or Dodge.

Fourth largest car company is created Fiat Chrysler and PSA put together around 8 before the Corona crisis, 7 million vehicles per year and had a turnover of 170 billion euros. Only Volkswagen, Toyota and the French-Japanese Renault-Nissan network were 2019 larger.

(fpi)