Fiat Chrysler will list in New York and drop the Fiat name from its new logo as the newly-combined carmaker pushes ahead with a politically sensitive decision to shift away from Italy.
Fiat, which fully acquired Chrysler this month, said the two carmakers would be rechristened under a new holding company incorporated in the Netherlands known as Fiat Chrysler Automobiles, with a tax domicile in the UK.
The expected restructuring, approved by Fiat directors on Wednesday, completes a long and drawn-out marriage between the US and Italian carmakers which industry analysts say will safeguard the future of both, but which has sparked fears of abandonment in Italy.
The new company, almost five years in the making, will list on the New York Stock Exchange with an additional listing in Milan, granting it easier access to financing. All Fiat shareholders will receive one share in the new company for every Fiat share they own.
Wednesday, January 29, 2014
FIAT Chrysler breaks with Italy in New York listing
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