By Gilles Castonguay
MILAN--CNH Industrial NV's holding company has applied to list
its stock in New York and Milan, the culmination of a long process
to merge two companies together to form the third biggest
capital-goods makers in the world.
The holding company, FI CBM Holdings NV, will itself fold into
CNH Industrial once its common shares begin trading, according to a
statement Wednesday.
CNH Industrial's chairman, Sergio Marchionne, recently said he
expected trading to begin Sept. 30.
FI CBM was created to facilitate Fiat Industrial SpA's (FNDSF,
FI.MI) acquisition of CNH Global NV (CNH).
Fiat Industrial already owned most of CNH, but it had to buy out
minority shareholders holding a combined 12% stake before it could
complete the merger, simplifying the structure of a company focused
on engines, trucks and agricultural and construction machinery.
Although Fiat Industrial is based in Turin and CNH near Chicago,
the merged company--CNH Industrial--will be incorporated in the
Netherlands, and it has made a request to have its fiscal residency
in the U.K.
Write to Gilles Castonguay at gilles.castonguay@dowjones.com;
Twitter: @GRCastonguay
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