CNH Industrial to approve Iveco spin-off in December
By Will Hall - 22nd November 2021
UK / Italy – CNH Industrial NV, based in London, is expected to formally approve the spin-off of the Iveco Group at an emergency general meeting later in December 2021. The spin-off plan, announced in 2019, will see CNH Industrial focus on farm machinery and construction equipment, with Iveco Group handling truck, bus, powertrain, special and defence vehicles.
The newly listed Iveco Group will integrate the Iveco, Iveco Bus, and Heuliez Bus brands with the FPT Industrial powertrain business. Iveco Group’s shares are expected to start trading on the Milan-based Borsa Italiana in January 2022. Once the spin-off is complete, CNH Industrial shareholders will receive one Iveco share for every five shares held in the parent company.
