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-Fiat considers moving headquarter from Italy to US.

Auto Business News-May 16, 2013--Fiat considers moving headquarter from Italy to US(C)1994-2013 ENPublishing -

Auto Business News - 16 May 2013

Fiat SpA (NYSE: FIA)(ISE: IT0001976403), an Italy-based automaker, is considering moving its headquarters from Turin, Italy, to somewhere in the United States, according to the company CEO.

This step across the Atlantic is due to Fiat's planned merger with Chrysler, which it currently controls. Fiat CEO, Sergio Marchionne, has previously indicated that he would like the merged Fiat-Chrysler to be listed on the New York Stock Exchange, rather than the Borsa Italiana where it currently has a listing.

Marchionne said, 'Europe is becoming a less and less relevant fact in the scheme of things. It's a reflection of the ability of this house to shift its interest and to shift its resources to markets that are much more rewarding in terms of investment and return.'

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Publication:Auto Business News (ABN)
Date:May 16, 2013
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