Merrill Lynch buys Fiat stake in GM - source

Newswire

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
Amber McLincha by email: amclincha@wardsauto.com or phone: (248) 799-2622
 

Current subscribers, please login or CLICK for support information.

Already registered? here.

Sponsored Introduction Continue on to (or wait seconds) ×