Milan (Reuters) -- Fiat today detailed plans to merge with Chrysler to create the world's seventh-largest automaker.
Here are the main points:
- Fiat Chrysler Automobiles N.V. will be the parent company of the new group and will be registered in the Netherlands.
- FCA will list its shares in New York first and later in Milan.
- FCA is expected to establish its tax domicile in Britain.
- Shareholders will be offered one new FCA share for each Fiat share they own.
- Fiat shareholders that vote in person or by proxy on the merger proposal will be also offered special voting shares as part of a loyalty voting scheme that seeks to encourage long-term share ownerships.Under the scheme, shareholders that hold their FCA shares for at least three years will also be eligible to receive the special shares and keep them for as long as they hold the ordinary shares.
Fiat struck a $4.35 billion deal, announced on January 1, to gain full control of Chrysler after more than a year of talks. The group's new business plan will be presented at the beginning of May.