Italian automaker Fiat S.p.A. announced Tuesday that conditions of its merger with Chrysler into Fiat Chrysler Automobiles NV.
DETROIT, MI - Italian automaker Fiat SpA announced Tuesday that conditions of its merger into Fiat Chrysler Automobiles NV have been met.
That means the resulting company, headquartered in London but incorporated in the Netherlands, is expected to begin trading shares on the New York Stock Exchange on Monday, Oct. 13. Fiat SpA shares will continue trading on European exchanges through Friday.
Fiat shareholders approved the merger with Chrysler Aug. 1, effectively ending the company's 115-year history in Italy while paving the way for Fiat and Chrysler CEO Sergio Marchionne to list it on the NYSE under the "FCA" ticker.
Fiat first bought a 16-percent stake in Chrysler during the auto bailouts in 2008 and 2009. Chrysler became a wholly owned subsidiary of Fiat in January after a $4.35 billion deal with the United Auto Workers union trust fund, which owned 41.5 percent of the Auburn Hills automaker.
David Muller is the automotive and business reporter for MLive Media Group in Detroit. Email him at dmuller@mlive.com or follow him on Twitter