Reuters Published 5:18 p.m. ET Dec. 5, 2019 | Updated 5:18 p.m. ET Dec. 5, 2019 Milan, Italy — Fiat Chrysler Automobiles has challenged a claim by Italy’s tax authorities over the valuing of its U.S. Chrysler business that could leave it with an unwanted tax bill just days ahead of an expected key merger… Continue reading Fiat Chrysler challenges Italy tax agency over value of US business
Tag: FCA
Exclusive: China’s Dongfeng plans partial sale of PSA stake – sources
China’s Dongfeng Motor will likely trim its stake in Peugeot owner PSA after hiring banks to study options, people close to the matter said.Fiat Chrysler and PSA announced in October they would join forces in a 50-50 share merger to create the world’s fourth-largest automaker, seeking scale to cope with costly new technologies and slowing global demand.Shrinking Dongfeng’s stake could help get the deal past U.S. regulators, at a time of heightened trade tensions between Washington and Beijing.
Aston Martin not actively pursuing new investors as opens SUV plant
ST ATHAN, Wales (Reuters) – Aston Martin (AML.L), which was reported this week to be the target of Canadian billionaire Lawrence Stroll, said it was not actively pursuing new investors on Friday as it opened a new factory to build its first sport utility vehicle. A name plate for the James Bond 1965 Aston Martin… Continue reading Aston Martin not actively pursuing new investors as opens SUV plant
China’s Dongfeng plans partial sale of Peugeot owner PSA stake
China’s Dongfeng Motor will likely trim its stake in Peugeot owner PSA after hiring banks to study options, people close to the matter said, in a move that could ease the French carmaker’s planned merger with Fiat Chrysler (FCA). Dongfeng has a 12.2% equity stake in the French carmaker, and would have about half of that in the… Continue reading China’s Dongfeng plans partial sale of Peugeot owner PSA stake
Italy ‘claims FCA undervalued Chrysler
Bloomberg reported Thursday that Italian tax authorities have claimed Fiat Chrysler Automobiles underestimated the value of its American business by 5.1 billion euros ($5.6 billion) following its phased acquisition of Chrysler several years ago, presenting the carmaker with a potentially hefty bill as it prepares to merge with French rival PSA Group.Fiat Chrysler is now registered in the Netherlands with a tax residence in the U.K. – not Turin, Fiat’s home for more than a century.The move triggered the so-called exit tax that Italy collects on capital gains realized when companies move assets outside the country.
Billionaire Lawrence Stroll seeks big stake in Aston Martin: report
LONDON (Reuters) – Canadian billionaire Lawrence Stroll, owner of Formula One team Racing Point, is preparing a bid for a major stake in Aston Martin (AML.L), Autocar magazine reported, sending the luxury sports car maker’s battered shares up 17% on Thursday. FILE PHOTO: A James Bond 1965 Aston Martin DB5 coupe is displayed at Sotheby’s… Continue reading Billionaire Lawrence Stroll seeks big stake in Aston Martin: report
Fiat Chrysler disagrees with Italy tax agency on underestimating U.S. business
FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook MILAN (Reuters) – Fiat Chrysler Automobiles (FCHA.MI) said on Thursday it strongly disagreed with a tax authority claim that it had underestimated the value of its U.S. business following its acquisition… Continue reading Fiat Chrysler disagrees with Italy tax agency on underestimating U.S. business
Italy tax authorities say Fiat underestimated value of Chrysler by $5.6 bln
FCA said the issuance of a final audit report starts a 60-day negotiation period, which ends with the issuance of a final audit assessment expected to be received by the end of December 2019. MILAN: Italian tax authorities believe that Fiat Chrysler Automobiles underestimated the value of its U.S. business by 5.1 billion euros ($5.6… Continue reading Italy tax authorities say Fiat underestimated value of Chrysler by $5.6 bln
UAW union leaders recommend approval of Fiat Chrysler labor deal
DETROIT (Reuters) – United Auto Workers leaders from Fiat Chrysler Automobiles NV’s (FCHA.MI) (FCAU.N) U.S. plants on Wednesday recommended approval of a tentative labor agreement that would allow the Italian-American automaker to avoid a strike as it works to merge with France’s Groupe PSA. (PEUP.PA) FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen… Continue reading UAW union leaders recommend approval of Fiat Chrysler labor deal
After Mustang SUV, calls for Corvette SUV grow
An electric Mustang SUV will hit dealerships late next year. When will Corvette follow suit? The positively received debut of Ford’s battery-powered Mustang Mach-E in Los Angeles last month (with the automaker hinting that it could develop a full Mustang sub-brand) has turned up the heat on Chevrolet to expand its Corvette lineup as well. Morgan Stanley… Continue reading After Mustang SUV, calls for Corvette SUV grow