Demerger of CNH Industrial N.V. through the Separation and Transfer of its “On-Highway” Business to Iveco Group N.V. – Final Settlement
June 30 2022 - 4:30PM
Sale of undelivered Iveco Group N.V. common
shares
London / Turin, June 30, 2022
CNH Industrial N.V. (CUSIP: N20944 109; ISIN:
NL0010545661; TICKER: CNHI) and Iveco Group N.V. (ISIN:
NL0015000LU4; TICKER: IVG) announce the final corporate activities
related to the spin-off of CNH Industrial N.V.’s On-Highway
business to Iveco Group N.V. (“the Demerger”), consummated on
January 1, 2022.
As of 5:00 pm Eastern Time on June 24, 2022, a
number of CNH Industrial shareholders entitled to receive Iveco
Group N.V. common shares (representing slightly over 1% of issued
Iveco Group capital stock), as a result of the Demerger, failed to
provide the details of a securities account with an intermediary of
Monte Titoli S.p.A., to which the Iveco Group common shares (listed
on Euronext Milan and only capable of being held and settled within
the systems of Monte Titoli S.p.A.) could be delivered (“the
Relevant CNHI Shareholders”, and the Iveco Group N.V. common shares
they are entitled to, “the Undelivered IVG Shares”).
Therefore, as per the Demerger documentation,
Citigroup Global Markets Europe AG has been appointed to sell the
Undelivered IVG Shares on Euronext Milan, in accordance with
regulations and market practices. At the end of such sales the
total proceeds (net of all transaction costs, including brokerage,
administration and foreign exchange fees) will be credited to the
Relevant CNHI Shareholders, which will receive their pro rata
portion of such aggregate proceeds (in US dollars), either by check
or by wire transfer, to the extent they have timely provided
Computershare Trust Co N.A. (the transfer agent of CNH Industrial
N.V.) with their bank account details and the relevant conditions
are met. The exact payment dates cannot be confirmed at this stage;
however, in case the Relevant CNHI Shareholders do not receive
payment by July 31, 2022, they are kindly invited to contact
Computershare Trust Co N.A.
Additional information about the announced
activities (namely the allocation of Iveco Group common shares to
CNH Industrial shareholders and the settlement of the Undelivered
IVG Shares), is available on the corporate website of Iveco Group
N.V.
CNH Industrial (NYSE: CNHI /
MI: CNHI) is a world-class equipment and services company. Driven
by its purpose of Breaking New Ground, which centers on Innovation,
Sustainability and Productivity, the Company provides the strategic
direction, R&D capabilities, and investments that enable the
success of its global and regional Brands. Globally, Case
IH and New Holland Agriculture supply
360° agriculture applications from machines to implements and the
digital technologies that enhance them; and CASE
and New Holland Construction Equipment deliver a
full lineup of construction products that make the industry more
productive. The Company’s regionally focused Brands include:
STEYR, for agricultural tractors;
Raven, a leader in digital agriculture, precision
technology and the development of autonomous systems;
Flexi-Coil, specializing in tillage and seeding
systems; Miller, manufacturing application
equipment; Kongskilde, providing tillage, seeding
and hay & forage implements; and Eurocomach,
producing a wide range of mini and midi excavators for the
construction sector, including electric solutions.
Across a history spanning over two centuries, CNH Industrial has
always been a pioneer in its sectors and continues to passionately
innovate and drive customer efficiency and success. As a truly
global company, CNH Industrial’s 37,000+ employees form part of a
diverse and inclusive workplace, focused on empowering customers to
grow, and build, a better world.
For more information and the latest financial
and sustainability reports visit: cnhindustrial.com
For news from CNH Industrial and its Brands
visit: media.cnhindustrial.com
Iveco Group N.V. (MI: IVG) is a
global automotive leader active in the Commercial & Specialty
Vehicles, Powertrain, and related Financial Services arenas. Each
of its eight brands is a major force in its specific business:
IVECO, a pioneering commercial vehicles brand that designs,
manufactures, and markets heavy, medium, and light-duty trucks; FPT
Industrial, a global leader in a vast array of advanced powertrain
technologies in the agriculture, construction, marine, power
generation, and commercial vehicles sectors; IVECO BUS and HEULIEZ,
mass-transit and premium bus and coach brands; IDV, for
highly-specialised defence and civil protection equipment; ASTRA, a
leader in large-scale heavy-duty quarry and construction vehicles;
MAGIRUS, the industry-reputed firefighting vehicle and equipment
manufacturer; and IVECO CAPITAL, the financing arm which supports
them all. Iveco Group employs approximately 34,000 people around
the world and has 28 manufacturing plants and 29 R&D centres.
Further information is available on the Company’s website
www.ivecogroup.com
Contacts
CNH
Industrial |
Iveco
Group |
Media RelationsEmail:
mediarelations@cnhind.com |
Media RelationsEmail:
mediarelations@ivecogroup.com |
Investor RelationsEmail:
investor.relations@cnhind.com |
Investor RelationsEmail:
investor.relations@ivecogroup.com |
- 20220630_PR_CNH_IVG_sale_undelivered_IVG_shares
CNH Industrial NV (NYSE:CNHI)
Historical Stock Chart
From Mar 2024 to Apr 2024
CNH Industrial NV (NYSE:CNHI)
Historical Stock Chart
From Apr 2023 to Apr 2024