Fiat Tractor Group Announces Internal Merger Plans

Fiat’s industrial tractor division announced its plans to merge with a second unit controlled by Fiat, and roll both into another merger with a Dutch unit.

Fiat Industrial SpA will be merged with its CNH Global N.V. (CNH) unit, and later with a Dutch unit, the company said. A date will be set for shareholders to vote on the merger plan. The terms and conditions of the proposal are in line with a plan signed last November, the company added.

The main objective of the merger is to simplify the corporate structure and better integrate the business of Fiat Industrial, the company said.