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Fiat to receive 4 billion euro finance loan

22 July 2010

Italy’s Fiat has stated that it will receive a financial loan for as much as 4 billion euros to finance a spin-off of its industrial businesses.

According to Fiat’s board of directors they have approved the loan, and it will mean a demerger of its truck and heavy equipment operations from its car business into a brand new company dubbed Fiat Industrial SpA.

This announcement comes as Fiat posted a profit of 90 million euros in the second quarter of this year, compared to the 168 million euro loss last year.

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