Fiat wants to borrow up to $10 billion to completely buy Chrysler - report

An interesting new report says Fiat is looking to borrow up to 10 billion USD from several banks to purchase the remaining stake in Chrysler.

Some of these banks include Goldman Sachs Group Inc., Deutsche Bank AG, Bank of America Corp and BNP Paribas SA - from which Fiat wants to get the necessary funds to buy the remaining 41.5 percent owned currently by the United Auto Workers' retiree health-care trust.

This is part of Sergio Marchionne's (CEO Fiat & Chrysler) plans to create a combination of the two automakers which would lead to a better competitor for Volkswagen Group, Toyota and General Motors.

It is believed Fiat has already received verbal agreements from some of the banks, but a deal hasn't been signed at the moment. If the deal is made, Fiat then wants to refinance the debt of both companies at a lower interest rate.

A more in-depth analysis is available at the source link below.

Write a comment
Show comments
About this article
Automaker Chrysler
Article type Industry
Tags chrysler fiat, chrysler fiat merger, fiat-chrysler merger, fiat chrysler