Actions Fiat on which the right of withdrawal have reached a total value of 463,3 million euro, staying that way under the ceiling of 500 million established as a threshold beyond which the merger with Chrysler would not have been possible. This was announced by Lingotto in a press release.
Shareholders who did not agree with the merger could exercise their right of withdrawal by August 20, i.e. they could have their shares liquidated in cash. The shares involved in this operation were 60.002.027 and the liquidation value was 7,727 euros. According to Italian law, these titles must be offered as an option (at the same liquidation value) to Fiat shareholders who have not exercised the right to withdraw. The offer will remain open from 5 September to 6 October 2014 inclusive.
It will then be necessary to verify that the threshold of 500 million euros is not exceeded for any oppositions presented by creditors. The procedure will thus end on 6 October, when Fiat will be able to choose whether to offer on the Stock Exchange, at the liquidation value, the shares which – possibly – will not be placed among the shareholders. The effectiveness of the merger is expected "around mid-October", concludes Lingotto.
At the opening of Piazza Affari, the Fiat share gained 0,2%, to 7,595 euros.
