The European Commission has given the official go-ahead for the merger between FCA and PSA destined to create Stellantis, the fourth largest automotive group in the world. However, Brussels has set a condition: a package of commitments made by the two manufacturers must be "fully respected". preserve competition in small commercial vehicles.
As explained by the EU, the two groups have undertaken to extend the cooperation agreement between PSA and Toyota in small light commercial vehicles and to facilitate competitors' access to the PSA and FCA repair and maintenance networks for this type of vehicle. The executive vice president Margrethe Vestager in fact, he stressed that "access to a competitive market for vans is important for many self-employed workers and small and medium-sized enterprises throughout Europe".
“We can approve the merger between Fiat Chrysler Automobiles and Peugeot Sa – continues Vestager – because their commitments will facilitate entry and expansion into the small commercial van market. In the other markets where the two manufacturers are currently active, competition will remain strong after the merger”.
Through a joint note "Fca and Groupe PSA warmly welcome the go-ahead from the European Commission, which authorizes the merger and creation of Stellantis, a world leader in new mobility". The two companies recall that "on January 4, 2021, the shareholders of both companies will meet separately and will be invited to approve the transaction". The companies also confirm that “the closing of the merger is expected by the end of the first quarter of 2021”.
