UPDATE 1-Fiat agrees to sell Toro to De Agostini

Newswire

TURIN, March 22 (Reuters) - Fiat has decided to sell its insurance division Toro to Italian publishing company De Agostini for 2.4 billion euros, Fiat said on Saturday. "The value of the deal is 2.4 billion euros for all the shares of the company," Fiat said in a statement. It said the sale of Toro would cut its net debt by some 1.4 billion euros and represented a capital gain of about 350 million euros. Fiat had included Toro in an asset sale programme in order to raise cash for a ...

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