Fiat S.p.A. (“Fiat”) today announced that all conditions precedent to completion of the merger of Fiat with and into Fiat Investments N.V. (to be renamed Fiat Chrysler Automobiles NV, or “FCA”) pursuant to the merger plan approved by the shareholders’ meeting of Fiat on August 1,
2014 have been satisfied.
The creditors’ opposition period under Italian law expired on October 4, 2014, and no creditors’ oppositions were filed. As previously announced, cash exit rights have been exercised for a number of shares that would not exceed the €500 million cap on the amount payable to shareholders exercising cash exit rights and to creditors exercising opposition rights. As a result the relevant condition precedent has been satisfied.
On October 6, 2014, the New York Stock Exchange (“NYSE”) provided notice that the listing of FCA common shares was approved subject to issuance of such shares upon effectiveness of the merger.
On the same day Borsa Italiana S.p.A. approved the listing of the common shares of FCA on the Mercato Telematico Azionario (“MTA”), subject to Consob’s authorization to publish the related information document (documento di equivalenza).
The merger is expected to become effective on October 12, 2014 and FCA common shares are expected to commence trading on the NYSE and, subject to Consob’s authorization to publish the related information document, on the MTA on Monday, October 13, 2014.
The last day of trading of Fiat ordinary shares on the MTA, Euronext France and Deutsche Börse is expected to be Friday, October 10, 2014.
