Fiat clears path for Chrysler merger

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

Fiat (OTCPK:FIATY) says it has cleared a road block for its planned reorganization, as the pay off of dissenting shareholders who were allowed to tender their shares will likely not exceed the €500M ($658.3M) set aside for the merger.

The reorganization will create Fiat Chrysler Automobiles, a new company with headquarters in Amsterdam, domiciled in the U.K. for tax purposes and a primary stock market listing in New York.