Fiat formally approves Chrysler merger

|About: Fiat Chrysler Automobiles NV (FCAU)|By:, SA News Editor

The board at Fiat (FIATY) formally approves the merger with Chrysler into a new entity.

The automaker will raise as much as €4B ($5.4B) in new bonds as part of the merger plan.

The combination of the two automakers into Fiat Chrysler Automobiles NV is expected to be completed before the end of the year.