(Adds background, detail, market reaction.) By Gianluca Semeraro MILAN, Dec 19 (Reuters) - Italian automaker Fiat said on Thursday it had agreed in principle to sell a majority stake in its consumer finance unit Fidis to its main creditor banks, a long-awaited deal that could slash its debt burden. The sale is expected to cut Fiat's gross debt by about six billion euros and is crucial to its effort to convince rating agencies not to downgrade its debt to "junk" status. A Fiat ...
Premium Content (PAID Subscription Required)
"UPDATE 1-Fiat says agrees in principle on Fidis sale" 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