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A contribution from 20% owner General Motors towards a 2.5 billion euro recapitalisation of struggling Fiat Auto will not be required, a Fiat Group source told Reuters yesterday (Thursday).
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“General Motors’ involvement is not required,” the source told Reuters.
According to Reuters Fiat had earlier said that the recapitalisation would be financed by funds from within the group and that the operation would not have any impact on the group’s consolidated debt levels.
The fresh cash is required under Italian law as Fiat Auto’s losses consumed more than one third of its 1.8 billion euro share capital, Reuters added.
