Reuters: Global Markets: Fiat in talks for up to $10 billion financing for Chrysler deal: report

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Fiat in talks for up to $10 billion financing for Chrysler deal: report May 30th 2013, 06:56 Tweet Share this Email Print Related News Fiat rises to highest in nearly two years on Chrysler buyout talk Tue, May 28 2013 Italy - Factors to watch on May 24 Fri, May 24 2013 Bloomberg's top editor calls client data policy 'inexcusable' Mon, May 13 2013 U.S. auto sales growth slows in April; Detroit gains ground Wed, May 1 2013 Analysis & Opinion Bloomberg is watching you Related Topics Hot Stocks » Asian Markets » Italy » A Fiat logo is seen on the wheel of a Fiat car in Turin in this picture taken February 10, 2013. Credit: Reuters/Stefano Rellandini MILAN | Thu May 30, 2013 2:56am EDT MILAN (Reuters) - Italy's Fiat (FIA.MI) is in talks for as much as $10 billion in financing from a pool of banks to buy the stake in Chrysler it does not already own and refinance the two automakers' debt, Bloomberg reported on Thursday. Citing people familiar with the matter, the report said the banks were discussing lending Fiat the money to buy a 41.5 percent stake in Chrysler held by the United Auto Workers' healthcare trust Veba. Fiat and Chrysler CEO Sergio Marchionne aims to complete the purchase by the end of the summer, pending the results of a legal dispute between Fiat and the healthcare trust over the value of its Chrysler stake, it said. Fiat already owns 58.5 percent of the U.S. carmaker. Fiat is planning a two-step deal which would see it first buying the remaining Chrysler stake and later refinance its debt in a planned merger with its American unit, Bloomberg said. One option being explored is to create a new company in the United States, merge Fiat and Chrysler into it and issue shares in the combined entity, it said. Current Fiat owners would exchange their shares for a stake in the new company. The Agnelli family, which controls Fiat, would end up with a minority stake. Fiat declined to comment on the report. (Reporting By Silvia Aloisi; Editing by Helen Massy-Beresford) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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