Italian car maker Fiat said yesterday the merger with its US unit Chrysler will be effective as of October 12 after all conditions for the tie-up to go through were met.

Fiat said no creditors had opposed the merger and the amount of money to be paid to shareholders that chose to sell their shares had not exceeded a €500-million cap set by the company.

Shares in the new holding Fiat Chrysler Automobiles will start trading on the New York Stock Exchange on October 13, Fiat said in a statement.

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