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FCA shareholders approve separation of Ferrari

Staff writer |
Fiat Chrysler Automobiles N.V. announced that the resolution proposed to shareholders at the company’s extraordinary general meeting of shareholders held in Amsterdam was passed.

The EGM approved a demerger pursuant to which FCA will transfer all of the shares held by it in Ferrari N.V. to FE Interim B.V., a newly-formed Dutch company, and FE Interim B.V. will issue shares to FCA’s shareholders.

The demerger is part of a series of transactions that will be carried out to separate FCA’s ownership interest in Ferrari N.V. and distribute that ownership interest to holders of FCA shares and mandatory convertible securities.

Those transactions are expected to be carried out in early January 2016.

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