RTTNews | Jan 4, 2021 09:04PM EST

21:04 Monday, January 4, 2021 (RTTNews.com) - Fiat Chrysler Automobiles NV (FCAU) and Groupe PSA (PEUGF.PK), who have agreed on a 50/50 merger of their businesses to create Stellantis, said Monday that their shareholders approved the merger and expect to complete the merger on January 16, 2021.

The companies noted that Stellantis' common shares will begin trading on the Mercato Telematico Azionario in Milan and Euronext in Paris on January 18, 2021, and on the New York Stock Exchange on January 19, 2021.

Up on the combination, Stellantis would be the world's 4th largest global automotive OEM by volume.

Following media speculation, the companies had confirmed their ongoing merger talks in October 2019, and the $50 billion combination agreement was announced in December 2019.

In a separate press release, Fiat Chrysler Automobiles said Monday that it will pay its shareholders a planned 1.84 euros per share or 2.9 billion euros special dividend as soon as possible after merger completion.

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