Automotive Industry

Marchionne: Financially, the deal made sense.(News)

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Byline: Luca Ciferri

Fiat group CEO Sergio Marchionne says selling Fiat Auto to DaimlerChrysler for $12 billion in 2000 "would have been a good deal financially."

Here's how Marchionne reaches this conclusion:

* Fiat group's current market capitalization is [euro]24 billion.

* Subtract $12 billion ([euro]12 billion at early 2000 exchange rates) for Fiat Auto

* Subtract three Fiat capital increases between 2002 and 2006 worth a combined [euro]5 billion.

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