Fiat says ciao to Italy

Aug 04, 2014 1424

Fiat, Italy's largest manufacturer and a symbol of the country's struggle to adapt to globalization, is leaving home after 115 years.

The controlling Agnelli family and other investors met Friday in Turin for the last time to seal the end of Fiat as an Italian company after it merges with Chrysler. Created by Italian-Canadian Chief Executive Officer Sergio Marchionne, Fiat Chrysler Automobiles will be incorporated under Dutch law, based in Britain and listed on the New York Stock Exchange.

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