UPDATE 1-Fiat steps closer to debt aims with Fidis,GM sales

Newswire

By Jane Barrett MILAN, Dec 21 (Reuters) - Crisis-hit Fiat moved into a better position to hit debt-cutting goals on Saturday when it agreed to sell most of its customer financing arm Fidis hours after off-loading its stake in General Motors Corp . In a statement, Fiat said the long-awaited sale of 51 percent of financing unit Fidis to its four top creditor banks would knock about six billion euros off its gross debt, which stood at 32.8 billion euros at the end of September. This is ...

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