A combined Fiat and Chrysler will reportedly seek a listing on the New York Stock Exchange this year, following the Italian car maker's agreement to acquire full ownership of Chrysler.
Earlier this week, Fiat announced a long-awaited deal to buy the 41.5 percent of Chrysler it doesn't already own for $4.35 billion. The successful end to negotiations with VEBA, the UAW health care trust, concluded a dispute over the value of its minority stake.
The pending merger of the Italian company and Chrysler will scrap the Big Three automaker's IPO plans. But according to the Financial Times, the auto group's emergence as a U.S.-centric organization may in fact culminate with an IPO in 2014.
Combining the two car manufacturers will increase Fiat's debt to 10 billion euros excluding pension contributions, %VIRTUAL-article-sponsoredlinks%based on a recent research note from Citigroup (C) analyst Philip Watkins. In order to ease that debt load, a fully merged Fiat-Chrysler could issue a convertible bond in tandem with a NYSE listing, the Financial Times reported Friday.
The newspaper, citing banking sources, also said Fiat-Chrysler will reshape the group's corporate structure to reflect its global footprint.
Spokespeople for Chrysler and Fiat declined to comment on the report.
CNH Industrial, Fiat's sister company that makes heavy machinery and vehicles, would be used as a template for corporate structure. The industrials group is a Netherlands-registered company that is listed in New York and Milan.
The report also said people close to Sergio Marchionne, the current CEO of both Chrysler and Fiat, expect his three-year plan set to be unveiled in the spring to be his last.
The Best And Worst Vehicles For Under $30,000
Report: Fiat-Chrysler Aims for 2014 IPO
By Michael Zak | AOL Autos
A recent Interest.com study looked at the 25 largest metropolitan areas in the United States to see which median-income households in those respective areas can afford to purchase a new car, the average price of which was $30,550 in 2012, according to TrueCar. The study found that in only one city can residents actually afford a car with this sticker price -- Washington, D.C.
Households with an average income in Washington, D.C. can afford a payment of up to $628, which would allow for purchase of a $31,940 vehicle. The next closest city, San Francisco, can only afford $537 per month, equating to a $26,786.
While it's not news that Americans like to buy things that they can't afford, the data is a little surprising given how many great cars there are out there for well under $30,000. Solid hybrids, CUVs, sedans and sports cars can all be had for less than this.
We've racked our brains and come up with 5 of the best cars that are cheaper than the average car's purchase price. These are affordable, versatile, fun and fuel efficient. Of course, there are some stinkers in this price range, as well, so we've included 5 vehicles we think you should avoid.
The Subaru BRZ proves that driving bliss doesn't have to cost a fortune. The rear-wheel drive sports coupe is one of the most engaging vehicles on the road today, with utterly superb dynamics and looks. The best part? You can have one for $25,495.
Although the redesigned 2014 version of this handsome hatch will be on sale in the near future, the current generation is still worth buying. It's fuel efficient, fun and surprisingly versatile. Starting at less than $20,000, the Golf is also quite affordable.
The Toyota Pirus v is essentially a bigger version of the popular Prius hybrid. This hatchback acheives stellar fuel economy while allowing for transport of numerous people and all of their stuff. Starting at $26,650, you can have all the benefits of a versatile hybrid for an agreeable price.
The Mazda CX-5 is one of our favorite crossovers here at AOL Autos even when taking more expensive ones into account. Remarkably fun to drive, fuel efficient and starting at a low price, there's a lot to love about this agile utility vehicle.
This small sedan continue to be the darling of both critics and consumers nationwide. Available with tons of standard features, great looks and sweet fuel economy, the Elantra is one of the best cars on the planet right now.
The 200 is a holdover from when Chrysler was owned by Daimler and then private equity-firm Cerberus Capital. It's not that this car is awful, especially since the new Chrysler, managed by Fiat, made a series of improvements. It's that the other cars in this category are so good, and much better designed and engineered.
The Scion tC is intended to be a sporty coupe. The problem? It's not sporty. At all. In fact, the tC finds itself on the Consumer Reports list of the least fun cars to drive and we're inclined to agree with that assessment.
Don't be fooled by the badge. This is not really a luxury car. With uninspired driving dynamics and a lackluster interior, you should pass on the ILX even though its low sticker price seems very tempting.
The idea of the smart fortwo is great. It's the execution that's the problem. The fortwo is loud, terrible to drive and really isn't all that fuel efficient, considering its size. There are way better options between $10,000 and $20,000.