Automotive Industry
Industry: Email Alert RSS FeedFiat must consider all its options.
Automotive News Europe, April, 2002
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WE DON'T know if Fiat plans to solve its huge debt problem by selling a larger stake to Libya's foreign investment agency. But it must be tempting.
It also sounds dangerous. The US State Department won't allow American companies such as General Motors to do business with Libya.
The Libyan Arab Foreign Investment Co. (LAFICO) bought a large Fiat stake in 1976 when the Italian company was in deep trouble and needed cash. But it became a problem when America forced Fiat to get rid of the Libyans in 1986.
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To buy them out, the Agnellis had to raise a lot of money fast. The ...
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