CNH Industrial approves Iveco spin-off
By Roberta Prandi27 December 2021
Iveco Group N.V. to operate independently as of January 1, 2022
On December 23, 2021, CNH Industrial N.V. announced that its shareholders’ meeting approved the proposal to allow the demerger of Iveco Group business from CNH Industrial. This proposal was approved by a majority of over 99% of the votes.
Following the approval by shareholders and receipt of the final regulatory clearances over the course of the month of December, CNH Industrial expects to complete the demerger on December 31, with the effective date on January 1, 2022.
The Iveco Group N.V. will operate as a stand-alone company with common shares on Euronext Milan; the starting of trading will be subject to further announcements.
As announced on previous occasions, the new Group should be incorporating truck, bus, specialty and defence vehicles brands, as well as the FPT Industrial’s engine and powertrain operations.