Fiat Chrysler to list robot-making business after PSA merger (updated)

Honeywell Automation India

01/06/2020 16:02

(Adds details, context)
    MILAN, June 1 (Reuters) - Fiat Chrysler (FCA)  FCHA.MI  said
it planned to list robot making business, giving more detail on
Monday about the future of Turin-based Comau, which it already
planned to spin off. 
    Comau will be spun-off shortly after FCA completes its
merger with Peugeot maker PSA  PEUP.PA  and its shares
distributed to shareholders of the new group.  urn:newsml:reuters.com:*:nP6N28C017
    The deal to create the world's fourth largest carmaker is
expected to be finalised in the first quarter of next year.
    FCA said that it had appointed Paolo Carmassi as Comau's new
chief executive to pursue the listing. For the past four years
Carmassi ran scientific equipment maker Malvern Panalytical, a
unit of Britain's Spectris  SXS.L , and previously worked for
more than 20 years at Honeywell, it said.
    It also appointed Alessandro Nasi, a board member of Exor
 EXOR.MI , the holding company of Italy's Agnelli family which
controls FCA, as Comau's new chairman.
    Exor is set to become the largest single shareholder of the
combined group after FCA's merger with PSA, and Comau's top
shareholder after its listing.
    "The appointments ... are a significant step forward for
Comau as it prepares for life as a public company," FCA Chief
Executive Mike Manley said in a statement. 
    FCA shares were up 3.3% at 1455 GMT. 

 (Reporting by Giulio Piovaccari; Editing by Stephen Jewkes and
Alexander Smith)
 ((giulio.piovaccari@thomsonreuters.com; +39 02 6612 9743;
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