Car giant Fiat Chrysler Automobiles is to base its parent company in the Netherlands, the newly merged company said on Wednesday.

However, the Dutch establishment will be the legal entity only – the company will be resident for tax purposes in Britain and the company’s common shares will be listed in New York and Milan.

The decision to establish Fiat Chrysler Automobiles NV in the Netherlands follows a ‘review of the options for the most appropriate governance and corporate structure,’ the company said in a statement.