Fiat Chrysler Automobiles has officially convened an Extraordinary General Meeting of FCA shareholders for December 3, within which the shareholders will have to approve the proposed separation of Ferrari.
In detail, the operation provides for the transfer of the shares held by FCA NV (equal to approximately 10% of the capital) to FE Interim BV, a newly formed Dutch company. FCA will in turn issue ordinary shares and special voting shares for the benefit of shareholders holding the corresponding FCA shares.
As communicated by Fiat Chrysler, the demerger project takes the form of a series of transactions aimed at separating FCA's residual stake in Ferrari NV and distributing this stake to holders of FCA shares and mandatory convertible securities. A move that precludes the listing of the Prancing Horse on the Italian Stock Exchange, scheduled for the very first days of 2016.
The record date for the Extraordinary Shareholders' Meeting will be November 5, 2015.
Meanwhile in Piazza Affari the FCA share has recovered its losses and is currently gaining 1,1% to 13,62 euros.
