FILE PHOTO: The logos of car manufacturers Fiat and Peugeot are seen in front of dealerships of the companies in Saint-Nazaire, France, November 8, 2019.
REUTERS/Stephane Mahe/File PhotoPARIS (Reuters) - The main shareholders in Peugeot owner PSA gave the green light on Monday to the group’s merger with Fiat Chrysler (FCA), one of the last steps towards creating the world’s fourth largest automaker.
At a special shareholder meeting, the deal to form Stellantis, the new company, was backed by more than 99% of the votes cast by investors with double voting rights.
These include PSA’s top stakeholder, the Peugeot family, as well as China’s Dongfeng, while a broader shareholder meeting was underway on Monday and FCA investors were also due to vote on the agreement.
Stellantis will have 14 brands, from FCA’s Fiat, Maserati and U.S.-focused Jeep, Dodge and Ram to PSA’s Peugeot, Citroen, Opel and DS.
Stephane Mahe, Dongfeng, Carlos Tavares, Tavares, Ram
Fiat, Peugeot, REUTERS, PARIS, PSA, Fiat Chrysler, FCA, Maserati, Dodge, Citroen, Opel, DS
Saint, Nazaire, France, China, Europe