Fiat-Serbia deal sees joint investment, new cars

Newswire

BELGRADE, April 30 (Reuters) - Serbia and Fiat will establish a joint company, 70-percent owned by the Italian auto maker, to invest 700 million euros ($1.09 billion) in two new Zastava car models, according to the text of an agreement to be signed later on Wednesday. The memorandum of understanding said the Italian car maker is entering into a strategic partnership with the Serbian government to run car maker Zastava. The cars will be made at Zastava's plant in the town of Kragujevac. ...

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