Back in January, CEO Sergio Marchionne happily announced that Fiat SpA managed to purchase the remaining stake to fully own its US subsidiary Chrysler Group LLC.
The merger process, which would see the creation of Fiat Chrysler Automobiles NV is a long one, as the new entity – the seventh largest global automaker – is a huge multinational corporation.
The FCA NV would act as a totally new company – with a base in the Netherlands for tax purposes, the global headquarters located in London, Fiat and Chrysler’s HQ remaining in Italy and the US, while the company’s primary listing – up and running in October – located in New York, with a secondary one in Milan.
And, in all the proceedings for the merger, there are also some traditional shareholders meetings. Fiat’s shareholder meeting has been called for August 1 to officially approve the merger between Italy’s carmaker and the US division.
Additionally, in a statement, Fiat also said the August meeting would call the shareholders vote on other related motions – mainly the merger of Fiat SpA with and into its wholly-owned Dutch subsidiary Netherlands Fiat Investments NV.
Fiat Chrysler Automobiles has already unveiled a five-years business plan that would see it targeting a five fold increase in earnings and a 60% overall growth for the car brands it owns, all by 2018.