Posted on May 8th, 2009 • by Bill Cawthon
Stung by German government criticism of FIat’s offer for GM’s struggling European brands, Fiat (and soon to be Chrysler) CEO Sergio Marchionne was quick to respond. In an interview with The Economist, Marchionne said, “I’m offering the German government a car business that will be effectively debt-free and I will take on Opel’s liabilities, including [...]
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Posted on May 7th, 2009 • by David Zatz
A Fiat spokesman confirmed that Sergio Marchionne, CEO of Fiat Group, will head Chrysler when it leaves bankruptcy, most likely in May or June; he is also working on taking over Opel, Saab, and Vauxhall. Marchionne is a dual Canadian and Italian citizen, who has stated his goal as creating the world’s second largest automaker (and [...]
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Posted on May 4th, 2009 • by David Zatz
Fiat has answered the question of how the company planned to finance its takeover of Opel at the same time it would presumably need to invest funds into Chrysler. The company now plans to take over GM Europe and create a new corporation, which would be listed on a yet-unspecified stock exchange, combining Fiat, Opel, [...]
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Posted on May 3rd, 2009 • by Bill Cawthon
Fiat SpA confirmed today that it is talking to General Motors Europe (GME) about acquiring GME’s troubled European operations. The Italian automaker wants Opel, Saab and Vauxhall to assemble an automotive operation large enough to be competitive in the future world market. Fiat CEO Sergio Marchionne has said an automaker needs to be able to [...]
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Posted on May 3rd, 2009 • by David Zatz
Detroit News carried a surprise article claiming that Fiat has publicly stated it’s board’s desire to create a new company which would include Chrysler, GM’s European holdings (Opel and Vauxhall), and Fiat itself. This would result in an auto company producing over $100 billion in sales per year. The Fiat Group would spin off [...]
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Posted on April 23rd, 2009 • by Bill Cawthon
Klaus Franz, works council chairman and deputy chairman of the supervisory board of Adam Opel AG, told the German press agency DPA the Fiat SpA plans to take a controlling interest in GM’s European brands. GM want to split off its Opel and Vauxhall lines and is looking for someone willing to make an investment. [...]
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