Ownerships Shifting At Fiat, Fuji Heavy Industries

Jan. 13, 2005
The Agnelli family is prepared to reduce its stake in Italy's largest car-maker in order to develop international alliances, daily publication Il Sole 24 Ore reports. The reports quotes the grandson of Fiat's founder, Umberto Agnelli. The Agnelli family ...

The Agnelli family is prepared to reduce its stake in Italy's largest car-maker in order to develop international alliances, daily publication Il Sole 24 Ore reports. The reports quotes the grandson of Fiat's founder, Umberto Agnelli. The Agnelli family controls about 30% of Fiat, the world's fourth-biggest carmaker, via holding companies IFI and IFIL. Also reported Dec. 7, Japan's Nissan Motor Co. Ltd. will announce a plan to sell its entire stake in Fuji Heavy Industries Ltd. this week and use the proceeds to slash debt. The Yomiuri Shimbun newspaper reported Nissan would sell its 4.1% stake in Fuji Heavy, the maker of Subaru cars, raising some 20 billion yen. Nissan would not comment on the report

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