Late News.

Automotive News Europe,  June, 2002  

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GM may buy Fidis

General Motors confirmed it is interested in acquiring a controlling interest in Fidis, Fiat Auto's car financing arm.

Last month, Fiat group's main Italian creditors - SanPaolo IMI, IntesaBCI and Banca di Roma - offered to buy 51 percent of Fidis to help struggling Fiat's finances. The deal would have raised up to 1.3 million and removed 8 billion in loans and financing from Fiat's balance sheet.

But as part of GM and Fiat's two-year-old alliance, the two companies already decided to pool back-office functions between Fidis and GMAC, GM's consumer credit ...

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