MILAN/NEW YORK (Reuters) – Investors cautiously greeted the Wall Street debut on Monday of Fiat Chrysler Automobiles (FCA), a move that shifts the carmaker’s center of gravity away from Italy and caps a decade of canny dealmaking and tough restructuring by Chief Executive Sergio Marchionne.
“We’re finally taking Chrysler back” to the U.S. stock market, Marchionne said Monday on the floor of the New York Stock Exchange. “One of the Detroit Three is coming home.”
MILAN, Oct 12 (Reuters) – Fiat Chrysler Automobiles
(FCA) makes its Wall Street debut to great
fanfare on Monday, shifting the carmaker’s centre of gravity
away from Italy and capping a decade of canny dealmaking and
tough restructuring by CEO Sergio Marchionne.
The world’s seventh-largest auto group has sought the U.S.
listing to help to establish itself as a leading global player
through access to the world’s biggest equity market and the
cheaper, more reliable source of funding it ultimately offers.
MILAN, Oct 10 (Reuters) – The Agnelli family has tightened
its grip on Fiat by securing higher voting rights after
the carmaker’s merger into Fiat Chrysler Automobiles (FCA), a
statement from the Italian bourse shows.
The move by the Agnellis’ holding company Exor to
boost its voting power at Dutch-registered FCA to nearly 50
percent contrasts with other European carmakers, where
controlling dynasties have been forced to cede control to ensure
their companies’ survival.
MILAN (Reuters) – Fiat Chrysler Automobiles (FCA) (FIA.MI: Quote, Profile, Research, Stock Buzz) could sell up to $830 million worth of shares to boost its finances and increase trading in the stock after it lists on Wall Street next week, according to Reuters’ calculations.
Fiat completed the full buyout of its U.S. unit Chrysler this year and is now incorporating all of its businesses under Dutch-registered FCA. A U.S. listing of the world’s seventh-biggest auto group is scheduled for Monday.
MILAN, Oct 9 (Reuters) – Fiat Chrysler Automobiles (FCA)
could sell up to $830 million worth of shares to boost
its finances and increase trading in the stock after it lists on
Wall Street next week, according to Reuters’ calculations.
Fiat completed the full buyout of its U.S. unit Chrysler
this year and is now incorporating all of its businesses under
Dutch-registered FCA. A U.S. listing of the world’s
seventh-biggest auto group is scheduled for Monday.
PARIS (Reuters) – Fiat Chrysler Automobiles (FCA) (FIA.MI: Quote, Profile, Research, Stock Buzz) has no need for a capital increase to fund its ambitious five-year growth plan, Chief Executive Sergio Marchionne said on Thursday.
Marchionne said, however, the board of the newly-merged company would examine all capital-boosting options, including taking on more debt, a mandatory convertible bond and a possible capital increase, at the end of the month.
PARIS (Reuters) – While rivals roll out new models and concept cars, Fiat has little to show at the Paris auto show besides another variant of its retro-styled 500 compact car, in what is starting to look like a worrying trend for the carmaker’s namesake brand.
Following the full takeover of U.S. unit Chrysler, the newly-named Fiat Chrysler Automobiles (FCA) has set out an ambitious growth plan focused on its upmarket Alfa Romeo, Maserati and Jeep brands.
PARIS (Reuters) – Toyota Motor Corp expects to ride out the worst effects of the slump in Russia’s car market, a senior executive said at the Paris auto show, and is sticking to its target of increasing sales to a million vehicles in Europe next year.
Though Russia’s car sales this year could drop to their lowest level since the financial crisis as Western sanctions over Ukraine weaken the economy further, Toyota says its focus on higher-end vehicles will help to keep its Russian numbers steady this year.
MILAN/TOKYO, Sept 19 (Reuters) – Mitsubishi Motors
will produce a new pickup for Fiat from 2016 in a deal
to boost the Italian carmaker’s commercial vehicle sales and
raise output at the Japanese company’s plant in Thailand.
According to a non-binding memorandum of understanding
unveiled on Friday, the companies will team up to develop and
manufacture the pickup which would be supplied by Mitsubishi and
based on its best-selling model, the L200.
FRANKFURT, Sept 17 (Reuters) – Car sales in Europe rose in
August but analysts and executives pointed to a heavy reliance
on government incentives in Spain and a fall in sales in big
markets Germany, France and Italy as signs a European recovery
may be faltering.
Mass-market carmakers Volkswagen, Ford and
Opel all made gains, while premium makers BMW,
Mercedes-Benz and Audi lost ground.