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Fiat to sell Fidis stake by yr end-source

MILAN, Oct 25 (Reuters) - Fiat is on course to sell a 51 percent stake in customer credit division Fidis to a group of banks by the end of the year, a financial source said on Friday after a meeting between the banks and the struggling carmaker.

The source told Reuters that the sale of the stake -- which was agreed in May when the banks produced a three billion-euro financing plan for the Turin-based group -- would allow Fiat to deconsolidate 6.5 billion euros of debt.

Based on its net asset value, the 51 percent stake in Fidis would be worth less than a billion euros, the source also said.

The creditor banks at the meeting on Friday were IntesaBci, , Capitalia , Sanpaolo IMI and UniCredito .