Fiat SpA approves merger plan for formation of Fiat Chrysler Automobiles

Sunday, 15 Jun 2014 01:07pm EDT 

Fiat SpA:Says the Board has approved the cross border merger terms governing the merger of Fiat into its wholly owned subsidiary Fiat Investments NV.Says this subsidiary, which is organized in the Netherlands, will be renamed Fiat Chrysler Automobiles NV (FCA) upon completion of the merger.Following the merger, FCA will become the holding company for the group.Says the approval is a further step in the reorganization plan announced on Jan. 29 following Fiat’s acquisition of the remaining equity interest in Chrysler Group LLC.The reorganization, which includes the merger plan, is designed to establish for FCA a corporate, investment and capital markets profile appropriate for the new make-up of the group resulting from the full integration of Fiat and Chrysler.Under the merger plan, Fiat shareholders will receive one FCA common share for each Fiat ordinary share they hold.The FCA common shares will be listed on the New York Stock Exchange (NYSE) and are expected to be listed on the Mercato Telematico Azionario (MTA) in Milan.The merger plan will be submitted for approval to the Fiat shareholders at an extraordinary general meeting that is expected to be held in the third quarter of 2014. 

Company Quote

0.1 +1.03%
25 Aug 2014