Posted by: youngragingbull | May 30, 2013

Fiat seeking $10B financing for Chrysler deal: Bloomberg

Fiat is reportedly 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.

A report by Bloomberg, citing people familiar with the matter, said the banks were discussing lending Fiat the capital to buy a 41.5 percent stake in Chrysler held by the United Auto Workers’ healthcare trust Veba.

Fiat and Chrysler CEO Sergio Marchionne plan 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.


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