Agnelli family Fiat stake dilution not inevitable
TURIN, Italy, May 25 (Reuters) - The Agnelli family's stake in a spun-off Fiat SpA (FIA.MI: Quote, Profile, Research) auto unit would not necessarily be diluted, Gianluigi Gabetti, chairman of family holding Giovanni Agnelli & C, said on Monday.
On Friday, Fiat reiterated it was looking at merging its unit Fiat Group Automobiles, including its recently acquired stake in Chrysler, with General Motors GM.N unit GM Europe, which Fiat wants to acquire.
This could lead to a spin-off of unit Fiat Group Automobiles and subsequent listing of a new company including the GM Europe activities, it said.
The Agnelli family controls Italy's Fiat via their ownership of quoted holding Exor (EXOR.MI: Quote, Profile, Research), which owns 30 percent in Fiat. Gabetti is an honorary chairman of Exor.
"The dilution of Exor's stake (in the new company) is not to be taken for granted," Gabetti said, as it would depend on how the spin-off was conducted and on other shareholdings in the new company.
© Thomson Reuters 2009 All rights reserved
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage
GLOBAL RECOVERY
Global economy in holding pattern - IMF
The global economy is in a holding pattern and vulnerable to more upheaval, the head of the IMF said, adding a lasting recovery will depend on policymakers taking the proper steps in the coming months. Full Article
India
US
UK
