CNH to debut on NYSE on Sept 30
Posted: 9/17/2013 |
Farm and construction equipment manufacturer CNH Global NV ( CNH ) will debut on the New York Stock Exchange on Sep 30. The announcement was recently made by company's chairman Sergio Marchionne.
In Nov 2012, Fiat Industrial, the parent company of CNH Global, inked a definitive agreement to merge its businesses with the latter. The merged company will be registered under the laws of the Netherlands and will be listed on the New York Stock Exchange. However, for corporate tax purpose, it will be based in the U.K. as the region offers a lower corporate tax rate than Italy.
The strategic merger would enable Fiat Industrial to shift its base from Italy, which has been hit by four recessions since 2001. The successful integration of both the businesses would fortify the combined entity to compete at the highest level in the capital-goods sector with adequate flexibility to pursue inorganic growth at opportune times.