Italy is close to unveiling the approval of guarantees for a 6.3 billion euro (5.67 billion pounds) financing of Fiat Chrysler (FCA) , two sources familiar with the matter said, paving the way for the largest crisis loan for a European carmaker.
MILAN - Italy is close to unveiling the approval of guarantees for a 6.3 billion euro financing of Fiat Chrysler , two sources familiar with the matter said, paving the way for the largest crisis loan for a European carmaker.
The loan would be disbursed by Italy’s biggest retail bank Intesa Sanpaolo , which has already authorised it pending the approval of guarantees the government will provide on 80% of the sum through export credit agency SACE. The newspaper said, however, that the conditions would allow FCA’s Dutch holding company to pay a 5.5 billion euro extraordinary dividend to shareholders once the carmaker’s planned merger with France’s PSA goes through.
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