DETROIT, Dec 20 (Reuters) - Investment bank Merrill Lynch & Co. has bought Fiat SpA's stake in General Motors Corp. for $1.16 billion, a financial source said on Friday. Earlier, GM and Fiat declined to name the bank involved in the deal, which would allow Fiat to meet debt-cutting targets agreed with its creditor banks. A Merrill Lynch spokesman also declined to comment. Merrill Lynch is advising Fiat on its restructuring plan.
Premium Content (PAID Subscription Required)
"Merrill Lynch buys Fiat stake in GM - source" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: email@example.com or phone: (248) 799-2642