Fiat Industrial Approves Merger Plans
The board of directors of Fiat Industrial has approved the merger of Fiat Netherlands Holding N.V. (FNH) with and into Fiat Industrial. The board also approved the merger plan merging of Fiat Industrial with and into a new, as yet unnamed company, also in the Netherlands—the so-called FI merger. Further, the merger of CNH Global N.V. into a new company was also approved, as a sequence of steps of the same transaction.
The announcement said terms of the plans related to the FNH merger, FI merger and CNH merger are consistent with all the terms of the merger agreement executed and announced on November 25, 2012.
Fiat said the main goal of the FI Merger, together with the CNH Merger, is to simplify the Fiat Industrial group’s capital structure and to enable full integration of the businesses controlled by Fiat Industrial, which – once combined – would represent the third-largest capital goods group in the world by equipment sales.