Serbia, Fiat to complete sale of Zastava carmaker

Newswire

BELGRADE, Dec. 21 (Reuters) - Serbia and Italy's Fiat have agreed on the completion of Fiat's purchase of a majority stake in the country's biggest carmaker, Zastava Automobili, a statement said on Monday. In 2008 Serbia and Fiat created a 1 billion euro ($1.43 billion) joint venture, Fiat Automobili Srbija, in which the Turin-based manufacturer acquired 67 percent of the Zastava carmaker, while the government in Belgrade kept the remainder. However, Fiat delayed its investment in ...

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