Fiat Boss Sergio Marchionne Sticks to 2014 Profit Forecast

Fiat chief executive Sergio Marchionne said he sees no reason to review the automaker's 2014 financial guidance.

Marchionne was speaking to reporters at an event in Italy, Reuters reported.

Earlier in the month, Fiat said that its merger with US affiliate Chrysler will go ahead as most of its shareholders had chosen not to exercise an option that could have derailed it.

Marchionne wants to incorporate the two firms into a Dutch-registered company christened Fiat Chrysler Automobiles (FCA), paving the way for a US flotation that will help pay for a grand investment plan.

But the plan could have been wrecked if Fiat had been forced to cough up over €500m ($646m, £398m) to investors who chose to offload their shares, exercising a legal right triggered by the company's decision to move its registered offices away from Italy.

Fiat said in a statement that shareholders opposing the deal had exercised exit rights for 60 million shares, equivalent to about €463.6m - just under the €500m threshold set by Fiat.

In late January, the Italian firm lowered its 2014 profit guidance just days after it assumed full control of Chrysler.

The firm said in a statement that it expected a 2014 trading profit of between €3.6bn and €4bn, on revenues of about €93bn.

The profit forecast was below an analyst estimate of €4.15bn.