26 May 1999
Fiat has $10bn for further acquisitions
FIAT has announced it still has a war-chest of US$10 billion (£6.24bn) to chase further acquisitions following the recent purchase by its New Holland arm of the Case group.
The announcement came as the car-maker said it expected its core operation to return to profit in the last quarter of this year.
Fiat Auto, accounting for about half of the groups total turnover, reported an operating loss 109m (£72m) this month for the first quarter of the year.
- New Holland scoops up Case Group, FWi, 18 May, 1999
- New Holland and Case to merge, FWi, 17 May, 1999
- Financial Times 26/05/99 page 28