Fiat and Chrysler CEO Sergio Marchionne wants to refinance in April the revolving credit line which expires in 2014, said the sources.
Marchionne plans to buy as soon as possible the rest of the 41.5% stake in Chrysler currently owned by the UAW’s medical benefits trust and merge the two automakers to create a single global car maker.
Chrysler is of utmost importance for Fiat, which relies on the US automaker to sustain earnings after the loss in Europe widened last year to more than 700 million euro. In February the UAW confirmed that Fiat and the trust were negotiating a possible sales of the stake on behalf of the retirees.Read Article
AutoSpies.com is ranked #1 on Google for auto show photos!
2013 New York Auto Show Photo Gallery