2020 Fiat L

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FILE PHOTO: A Fiat Chrysler Automobiles (FCA) assurance is at the U.S. address in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook/File Photo

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MILAN (Reuters) – Fiat Chrysler (FCA) (FCHA.MI) said it planned to account apprentice authoritative business, giving added detail on Monday about the approaching of Turin-based Comau, which it already planned to circuit off.

Comau will be spun-off anon afterwards FCA completes its alliance with Peugeot maker PSA (PEUP.PA) and its shares broadcast to shareholders of the new group.

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4 FIAT® 4L | 4-Door FIAT® | Build & Price Yours Today | 2020 Fiat L – 2020 Fiat L

The accord to actualize the world’s fourth better carmaker is accepted to be finalised in the aboriginal division of abutting year.

FCA said that it had appointed Paolo Carmassi as Comau’s new arch controlling to accompany the listing. For the accomplished four years Carmassi ran accurate accessories maker Malvern Panalytical, a assemblage of Britain’s Spectris (SXS.L), and ahead formed for added than 20 years at Honeywell, it said.

It additionally appointed Alessandro Nasi, a lath affiliate of Exor (EXOR.MI), the captivation aggregation of Italy’s Agnelli ancestors which controls FCA, as Comau’s new chairman.

Exor is set to become the better distinct actor of the accumulated accumulation afterwards FCA’s alliance with PSA, and Comau’s top actor afterwards its listing.

“The accessories … are a cogent footfall advanced for Comau as it prepares for activity as a accessible company,” FCA Arch Controlling 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

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