There is no risk of Fiat's merger with Chrysler foundering, the Italian car giant said Friday. Fiat said the merger was on track to go ahead as planned in October since it did not expect a 500-million-euro ($658.3 million) cap on the money it set aside to pay off any dissenting shareholders would be breached.
Sergio Marchionne, chief executive officer, has incorporated the two carmakers into a Dutch-registered company called Fiat Chrysler Automobiles (FCA), paving the way for a stock market listing on Wall Street in the United States that will help fund an ambitious investment plan.
In a statement, Fiat said it was finishing a count of the number of shares for which cash exit rights had been validly exercised and would give final details by September 4.
Based on data received so far, Fiat said it calculated that the 500-million-euro limit has not been exceeded.
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