Fiat shareholders to approve conversion into FCA on August 1

(ANSA) - Turin, July 3 - Fiat has called shareholders to a meeting August 1 to approve its conversion to Fiat Chrysler Automobiles (FCA), the carmaker said Thursday. Shareholders will receive one ordinary share of FCA for each Fiat share.
FCA will be listed on the New York Stock Exchange and the Italian bourse.
Shareholders wanting out will be paid 7.727 euros a share, the company said. The assembly will be the last to be held in the city Turin, the birthplace of Fiat 115 years ago. CEO Sergio Marchionne said last month that FCA will make its Wall Street debut in the first two weeks of October. Fiat gained full control of Chrysler in a $4.35-billion deal with a United Auto Workers union healthcare trust earlier this year. The world's seventh-biggest automaker will have its headquarters in the Netherlands, and maintain a UK tax base. Fiat changed hands at 7.69 euros a share halfway through the trading session Thursday, up 2.75% since yesterday's close.