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July 15, 2020, 2:16 p.m. EDT

Fiat, Peugeot parent merged company to be named Stellantis

Fiat Chrysler Automobiles NV (NYS:FCAU) said Wednesday that the company resulting from its merger with France's Groupe PSA (PAR:FR:UG) , makers of Peugeot, Citroen, Opel, and other European car brands, will be called Stellantis, hailing the naming as a "major step" toward completing the deal announced last year. The name, from the Latin verb stello, means to brighten with stars, the company said. "It draws inspiration from this new and ambitious alignment of storied automotive brands," the company said. The companies have said they expect the deal to close in the first quarter of 2021, subject to customary closing conditions, including shareholder and regulatory approvals.

Link to MarketWatch's Slice.