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Agnelli family nabs shares as FCA clears final hurdle

by Bill Cawthon on

Reuters reported that the Agnelli family, the largest stockholders in Fiat S.p.A., has used the special two-for-one voting rights loyalty program for all 375 million of the shares it holds to boost its holdings from 30% of Fiat to 46.6% of Fiat Chrysler Automobiles.

Few of the other large investors exercised the rule which let those who had owned their shares for at least three years get two votes for each share. The rule was one of the reasons some groups were opposed to the merger. Its dilution of other stock may be one reason for the recent drop in the price of Fiat stock.

Consob authorized the company to publish the information document for the listing of FCA common shares on Mercato Telematico Azionario (“MTA”); the Netherlands Authority for the Financial Markets has completed its review of the document, which will be posted on and then on the FCA web site on October 12.

The merger becomes effective on October 12, 2014, and FCA common shares will commence trading on the NYSE at 9:30 AM New York time on Monday, October 13, 2014 and shortly thereafter on the MTA, as announced by Borsa Italiana. Today will be the last day of trading of Fiat ordinary shares on the MTA, Euronext France and Deutsche Börse.

After 111 years on the Italian bourse, today is the last business day for trading in shares of Fabbrica Italiana Automobili Torino, S.p.A.


Bill Cawthon grew up in the auto industry in the 1950s. His Dad worked for Chrysler and Bill spent a number of Saturdays down on the plant floor at Dodge Main in Hamtramck. Bill is also the U.S. market correspondent for, a British auto industry publication, and a member of the Texas Auto Writers Association, which has named the Jeep Grand Cherokee the “SUV of Texas” several times and named the Ram 1500 as the “Truck of Texas” two years running.

Bill has owned five Plymouths (including the only 1962 “Texan”), one Dodge and one Chrysler and is still trying to figure out how to justify a Wrangler. He also has owned at least one of every 1:87 scale model of a Chrysler product. You can reach him directly at (206) 888-7324 or by using the form.

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