Fiat (FIATY.PK) is reportedly in negotiations with major banks to borrow up to $10B that the...


Fiat (FIATY.PK) is reportedly in negotiations with major banks to borrow up to $10B that the Italian carmaker would use to acquire the 41.5% of Chrysler it doesn't own and refinance the two companies' debt at lower interest rates. The banks include Bank of America (BAC), Deutsche Bank (DB), Goldman Sachs (GS) (GS) and BNP Paribas (BNOBF.PK). Fiat's purchase of the holding is being held up by a legal dispute over the value of the stake.
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Comments (3)
  • DeadlyClear
    , contributor
    Comments (80) | Send Message
     
    The holdup is probably a good thing considering the players involved. Sounds like an over-leveraged deal on the way to bankruptcy after bleeding out what's left. Standard procedure and not the best acquisition for the investors either. In these deals only top management and the Board make off like bandits.
    30 May 2013, 04:00 AM Reply Like
  • mitrado
    , contributor
    Comments (2033) | Send Message
     
    Wouldn't it be easier for CEO's all over Europe to raise salaries instead of resorting to these kind of deals? If the people don't have money, who are corporations expecting to sell their over-priced products?

     

    Hell, this year I can't even afford to go on an one week holiday. I'll just stay home playing PS3 instead. No wonder Europe is going down the drain.
    30 May 2013, 08:42 AM Reply Like
  • gwynfryn
    , contributor
    Comments (6454) | Send Message
     
    That's sacrilege, mit! The whole point is to maximise the differential between their salaries, and everybody else's. Yes, it does reduce wealth creation, but that's business...
    30 May 2013, 09:40 AM Reply Like
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