Filed under: Europe, Earnings/Financials, Fiat
With all the mergers and acquisitions going on in the automotive industry these days, few corporate structures have been as tumultuous as that of
Fiat. The Italian group was once very centralized, but recently, it split its divisions into quasi-autonomous subsidiaries, then it stepped in and took the reins at
Chrysler, and is now it is splitting itself into two distinct groups.
The first is to be known as Fiat SpA, and will encompass the automotive brands, including
Alfa Romeo,
Lancia,
Maserati and, of course, Fiat. The second, Fiat Industrial SpA, will presumably include the likes of Iveco, Case New Holland and French motorcoach division Irisbus. (
Ferrari's future hangs in the balance as reports alternately confirm and deny plans to sell off parts of the Maranello-based automaker and racing team.)
The de-merger was made in accordance with a shareholder vote on September 16. As a result, both new corporate groups have received new logos to help differentiate one from another, as both will be listed separately on the Milan Stock Exchange. While the move likely won't have any immediate, direct impact on the Chrysler Group, if an official merger is to take place between the Turin and Auburn Hills auto groups, it's likely to encompass the Fiat auto group and leave the industrial group alone. Official announcement in the press release after the jump.
[Source: Fiat (both of 'em)]
Continue reading Fiat officially splits into two corporate groups
Fiat officially splits into two corporate groups originally appeared on Autoblog on Wed, 01 Dec 2010 08:01:00 EST. Please see our terms for use of feeds.
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01-12-2010, 04:10 PM
