Fiat Chrysler - Groupe PSA Merged Entity To Be Renamed STELLANTIS

(RTTNews) - Automakers Fiat Chrysler Automobiles N.V. and Peugeot S.A. or Groupe PSA, who have agreed on a 50/50 merger of their businesses, plan to call their combined new entity STELLANTIS.

The next step in the process will be the unveiling of a logo, which, along with the name, will become the corporate brand identity. The names and the logos of the combined company's constituent brands will remain unchanged. The companies will use the new name exclusively at the Group level, as a Corporate brand.

In a statement, the companies said the new name has its roots in the Latin verb "stello" meaning "to brighten with stars." With the name's Latin origins, the Italian and French companies hope to pay tribute to the rich history of its founding companies.

They said, "It draws inspiration from this new and ambitious alignment of storied automotive brands and strong company cultures that in coming together are creating one of the new leaders in the next era of mobility while at the same time preserving all the exceptional value and the values of its constituent parts."

Following media speculation, the companies had confirmed their ongoing merger talks in October last year, and the $50 billion combination agreement was announced in the following December. The merger is expected to create the world's fourth-largest carmaker by volume.

The deal, as announced earlier, is expected to occur in the first quarter of 2021. This includes the approval by both companies' shareholders at their respective Extraordinary General Meetings.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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