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Fiat Chrysler Automobiles

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Fiat Chrysler Automobiles NV
IndustryAutomotive
FoundedJan 27, 2014
Headquarters
Netherlands
Area served
Worldwide
Key people
Sergio Marchionne, CEO
John Elkann, Chairman
ProductsAutomobiles, commercial vehicles, engines, automotive components
ParentEXOR S.p.A.

Fiat Chrysler Automobiles NV will become the holding company for Fiat Chrysler Automobiles following the reorganization of Fiat SpA and Chrysler Group LLC that was announced on 29 January 2014[1] The announcement came just a week after Fiat's acquisition of 100% of Chrysler Group LLC on 21 January 2014.[2]

The new holding company is incorporated in the Netherlands and, subject to completion of the integration and the requisite regulatory approvals, is expected to be listed on the New York Stock Exchange in October 2014,[3] with an additional listing on the Mercato Telematico Azionario in Milan. The operating activities of the new group will remain unchanged, with manufacturing, design and engineering facilities remaining in Turin, Italy, and Auburn Hills, Michigan (and other locations worldwide, including Canada, Mexico, Brazil, Argentina, Poland and China). This new group resulting from the integration of Fiat and Chrysler will be the seventh largest automaker in the world.[4]

Subsidiaries

FCA will serve as the parent company for a group whose product brands include Abarth, Alfa Romeo, Chrysler, Dodge, Ferrari, Fiat, Fiat Professional, Jeep, Lancia, Maserati, Ram Trucks and SRT.

Other activities includes components (Mopar, Magneti Marelli), production automation (Comau) and metal foundry Teksid.

History

The integration between Fiat and Chrysler dates back to 2009 after Chrysler filed for Chapter 11 bankruptcy reorganization on 30 April 2009. On 10 June 2009, Chrysler emerged from the bankruptcy proceedings with the United Auto Workers pension fund, Fiat, and the U.S. and Canadian governments as principal owners. Over the next few years, Fiat gradually acquired the other parties' shares to take majority ownership of the company, and on 21 January 2014 Fiat completed the acquisition of the remaining 41.5% from the United Auto Workers, making Chrysler Group a wholly-owned subsidiary.[5]

On 29 January 2014 Fiat announced a reorganization and intended merger into a new holding company incorporated in the Netherlands, with tax domicile in the UK and a dual listing on both the NY and Milan stock exchanges. A very similar scheme was developed for the combination of CNH Global N.V. and Fiat Industrial S.p.A. to form CNH Industrial.[6]

The new FCA logo was created by Robilant Associati, ending the use of the Fiat SpA logo and Chrysler pentagon logo for group branding.[7]

References

  1. ^ "Chrysler fuels profits at newly merged Fiat Chrysler Automobiles". Los Angeles Times. 29 January 2014. Retrieved 29 January 2014.
  2. ^ "Fiat Completes Purchase of Chrysler With Payment to Trust". Bloomberg. 21 January 2014. Retrieved 29 January 2014.
  3. ^ "Fiat Chrysler breaks with Italy in New York listing". Financial Times. 29 January 2014. Retrieved 30 January 2014.
  4. ^ "'Fiat Chrysler Automobiles' is new name, stock on NYSE". USA Today. 29 January 2014. Retrieved 29 January 2014.
  5. ^ "Fiat shares surge after deal to buy remaining Chrysler stake". BBC. 2 January 2014. Retrieved 30 January 2014.
  6. ^ "Fiat HQ move risks political pain for tax gain". Reuters. 27 January 2014. Retrieved 30 January 2014.
  7. ^ "Fiat and Chrysler adopt a new logo" (PDF). FCA. 29 January 2014. Retrieved 29 January 2014.
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