UPDATE 1-Fiat set to meet debt goal with sale of GM stake

Newswire

(Adds financial source saying Merrill Lynch is the buyer of stake, details, background) By Jane Barrett MILAN, Dec 20 (Reuters) - Fiat said on Friday it had sold its almost 6 percent stake in partner General Motors Corp. for about $1.16 billion in a move that will help it meet strict debt-slashing targets agreed with its creditor banks. Fiat said it had sold the stake to an unidentified investment bank. A financial source said the buyer was Merrill Lynch , which is also advising the ...

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