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Fiat Looks to Create New Company with Assets from GM Europe, Chrysler (Visit this link)
Nicole Winfield and Tom Krisher from the Assoicate Press via Forbes: Fiat confirmed Sunday that it is in talks to buy most of General Motors' European operations, taking another step toward creating a global automotive powerhouse. Fiat also said it is evaluating the possible spinoff of its auto business to form the core of a new company. Fiat Group Automobiles includes the Fiat, Alfa Romeo and Ferrari brands. In addition, Fiat is in the process of acquiring U.S. automaker Chrysler LLC without putting up any cash. The new auto company, which according to Fiat would have $105 billion in annual revenue, would put the Italian automaker in markets where it has little or no presence, including North America, traditionally the largest market in the world.
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