Fiat has said the merger with US unit Chrysler will take effect on 12 October after all conditions were met.

According to Reuters, the automaker 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 EUR500m cap set by the company.

Shares in the new holding Fiat Chrysler Automobiles would start trading on the New York Stock Exchange on 13 October, the report added.