ROME, June 21 (Reuters) - Italian industrial group Fiat is in talks with several banks about the possible sale of a majority stake in its credit financing arm Fidis, Fiat Chairman Paolo Fresco said on Friday.
"We are considering the sale of 51 percent of Fidis and we have been approached by several banking and financial institutions that are interested in taking over this business," Fresco told a committee of lawmakers in parliament.
He recalled that General Motors Corp , Fiat's partner at its car-making unit, had first option to buy the stake.
Fiat's three main creditor banks, when they offered Fiat a three billion-euro credit line in May, offered to buy the stake.
Fiat said then that selling a 51 percent stake in Fidis would chop eight billion euros off its gross debt pile.