More meetings concerning Fiat’s financial crisis are taking place and being planned for the near future.
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Hot on the heels of a reported meeting between Fiat and GM execs in New York last weekend (probably to discuss the 80% of Fiat Auto ‘put option’ facing GM and the routes to delaying/cancelling it – ie how much will it take?) the Agnelli family holding company is reported by Reuters to be planning to meet on March 3 to discuss an agreed capital increase for the troubled industrial company. The Agnelli’s may agree a 250 million euros injection to Fiat.
Reuters also says that Fiat’s board is due to discuss a 2.5 billion euro capital increase of its own at a meeting on Friday.
Reports in the Italian media say that Fiat has agreed with creditor banks to carry out a capital injection – rights issue – of up to three billion euros as part of the company’s rescue plan for its ailing car division, Fiat Auto. Press reports cited differing figures on the scale of the injection.
The media reports say that Fiat’s main creditor banks would guarantee the capital injection.
