BREAKING NEWS

Fiat-Chrysler to go public in New York in October

Now Reading:

Fiat-Chrysler to go public in New York in October

Text size Aa Aa

Fiat-Chrysler’s boss Sergio Marchionne says the company will list in New York on October 13.

It comes after their new merger cleared one final hurdle when a possible shareholders’ veto on the whole deal failed to gain enough support by its deadline.

Marchionne added that any decision on capital increases for the group would be made by the end of October.

His rescue plan for the two icons involves investing 44 billion euros over five years.

He says the US listing is one way of paying for a relaunch of the Alfa Romeo and Maserati brands, the export of Jeeps globally, and competing in the fast-growing Asian markets, where the group is currently weak.