(ANSA) - New York, January 27 - Fiat's CEO is set this week
to propose to the board listing on the New York Stock Exchange
the new group being created by the Italian automaker's takeover
of American carmaker Chrysler, and giving it a British tax home,
according to the Wall Street Journal.
Citing people familiar with the plans, the financial daily
said Sergio Marchionne's proposal on the tax home would mirror
the direction taken last year by Fiat's sister company, CNH
Industrial, which he chairs.
The Journal said the move would help him avoid making the
politically difficult choice between Italy and the US as the
headquarters for the new group, and could allow the company to
pay less tax on dividends.
Marchionne is also expected to propose New York as the
primary market for listing the group's stock. He strongly
suggested in a press conference earlier this month that
Fiat-Chrysler would seek a US stock listing, giving it greater
access to capital than in Milan, where Fiat's stock is currently
The Turin-based group finalized the deal to take full
possession of Michigan-based Chrysler on January 21.
The transaction, worth $4.35 billion, came after more than
a year of negotiations between Fiat and the United Autoworkers
(UAW) healthcare trust VEBA.
Fiat was determined to acquire the 41.46% share of Chrysler
that VEBA received as part of a plan in 2009 that rescued the
ailing American automaker from bankruptcy and gave Fiat majority
Under the new deal, Fiat and Chrysler will together pay out
$3.65 billion in cash to VEBA, while Chrysler has agreed to pay
the trust an additional $700 million over the next three years.