Renamed Fiat Chrysler moves corporate base out of Italy

The world's seventh-largest carmarker renamed itself Fiat Chrysler Automobiles on Wednesday and announced a corporate move away from Italy, according to dpa. The newly merged company is to set up its legal headquarters in the Netherlands and take up tax residence in Britain. It is also due to list its shares on Wall Street, with an additional listing on the Milan bourse, where Fiat shares are currently traded. The relocation follows the completion of Fiat's merger with Chrysler. The Italian firm had controlled the US peer since 2009, but bought the final 41.5-per-cent stake this month, in a deal with a union-controlled health fund.