Shareholders of PSA Group signed the merger agreement with Fiat Chrysler, which has been negotiating for many years.
The French company PSA has approved the merger to create Stellantis, which will be the fourth largest car manufacturer in the world. Fiat and Chrysler shareholders are also expected to approve the deal within the day.
Stellantis aims to be a company that stands out in certain segments where many models are melted in the same pot.
With the merger, the company aims to increase North America's effectiveness in the lucrative van and SUV segments.
The European Union had previously launched an investigation into the merger proposal of the French PSA, to which Fiat Chrysler Automobiles, Peugeot and Citroen brands are affiliated, claiming that it could lead to a decrease in competition in vans and light commercial vehicles under 3.5 tonnes in 14 EU member countries and the UK.
After 6 months of investigation, the EU conditionally approved the Fiat Chrysler and PSA merger last year, which was agreed in principle, in December.
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