Ifil, Ifi approve cap hikes to help out Fiat

Newswire

MILAN, June 27 (Reuters) - Ifil , the holding group which controls Fiat , said on Friday it would raise up to 502.2 million euros in a share issue to help fund its part of a 1.8 billion-euro capital increase at the Italian carmaker. Ifil owns 30.3 percent of Fiat so to keep its stake steady, Ifil needs to buy about 545 million euros of new Fiat stock. Ifil's controlling shareholder, holding company Ifi , said it would raise up to 456.7 million euros in its own capital increase.

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