By Svetlana Kovalyova and Gianni Montani MILAN/TURIN, Itay, March 22 (Reuters) - Fiat said on Saturday it would sell its insurance arm Toro to Italian publisher De Agostini for 2.4 billion euros ($2.55 billion), raising vital cash to tackle losses and debts. In a statement, Fiat said the deal would cut its net debt by some 1.4 billion euros and represented a capital gain of about 350 million euros. "The sale of Toro is an important and necessary sacrifice to cut debt and sustain the ...
Premium Content (PAID Subscription Required)
"UPDATE 2-Fiat agrees to sell Toro to De Agostini" 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:
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!
Current subscribers, please login or CLICK for support information.