The decision was made to “take into account the liquidity impact of the Covid-19 health crisis on the automotive industry,” the companies said in a joint press release, while “preserving the initial balance of the merger ”which should be completed. by the end of the first quarter of 2021.
They were approved “unanimously” by the boards of directors of the two companies “with the strong support of their reference shareholders”, declared FCA and PSA.
The merger, announced at the end of October, will create Stellantis, set to become the world’s fourth largest automaker in terms of volume and third in terms of sales.
The merged company unites brands such as Peugeot, Citroën, Fiat, Chrysler, Jeep, Alfa Romeo and Maserati into a global giant, each of which will continue under its own brand.