Mercoledì, 17 Ottobre 2018

Fiat Industrial-CNH merger effective in the summer


Turin, April 8 - The merger of Fiat Industrial, the
holding company of the non-automotive assets of Fiat SpA, with
its CNH Global NV (CNH) unit, could be concluded this summer,
Chairman Sergio Marchionne told shareholders on Monday.
"The merge operation will be subject to the necessary
extraordinary assemblies and it will probably become effective
in the third quarter of this year," said Marchionne.
"The move will bring to a close a long process of
simplification launched over two years ago."
US agricultural and construction equipment manufacturer CNH
is a subsidiary of Fiat Industrial, in which the latter
currently has around an 88% stake.
"With the merger Fiat Industrial and CNH will become a
totally integrated, multinational group that is able to compete
in the capital goods sector at the highest level," said
"It will be one of the biggest and strongest groups in the
sector, present in markets throughout the world and finally free
to create its own destiny," the chairman concluded.
Shares in the new unit will trade in New York, with a
possible secondary listing on the Milan Stock Exchange.

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