COMUNICATO STAMPA FIAT
WITH GENERAL MOTORS REGARDING THE POSSIBLE MERGER OF
ITS AUTO BUSINESS WITH OPEL
Fiat reaffirms its determination in pursuing its strategic objectives of
participating in the consolidation of the auto sector in Europe, and views
the potential merger with Opel as an excellent means of creating the
second largest carmaker in Europe with a global geographic footprint and
all the technological, managerial and financial resources required to
successfully compete in the current market environment. Fiat’s proposed
plan will limit the social costs of the integration process, while delivering at
the same time significant synergies derived from the sharing of platforms,
related components and power-trains.
“The search for a partner for Opel which has been initiated by General
Motors, and which has involved the German government due to the
request for financial assistance, has been a complicated and uneven
process,” said Sergio Marchionne, Chief Executive Officer of Fiat S.p.A.
“We have been involved in these activities for a number of weeks now,
and have tried to follow in a responsible manner the requests made by the
various parties involved in the selection process. The issues that emerged
from the last round of negotiations on Tuesday and Wednesday have left
us perplexed, since we had not been advised until then of certain key
financial factors and data which we consider to be essential to the
formulation of a proper merger offer. Given the nature of the process itself
and its short duration, Fiat has been unable to have full access to the
financial records of Opel to determine its precise financial condition and
thus properly frame a merger proposal that would be fair to General
Motors as the seller and to Fiat S.p.A.”
“The last round of requests which would require Fiat, among other things,
to fund Opel on an emergency basis while the German government
determines the exact timing and conditions of the interim financing, would
expose Fiat to unnecessary and unwarranted risks. It is in fact
unreasonable to expect, on the basis of prudent business judgment and
proper governance of its affairs, that Fiat would provide funds to an
organization whose financial details and position remain unknown to date.
The brevity of time between the request and the date that the commitment
must be made is such that proper due diligence cannot be performed.”
ITS AUTO BUSINESS WITH OPEL
Fiat reaffirms its determination in pursuing its strategic objectives of
participating in the consolidation of the auto sector in Europe, and views
the potential merger with Opel as an excellent means of creating the
second largest carmaker in Europe with a global geographic footprint and
all the technological, managerial and financial resources required to
successfully compete in the current market environment. Fiat’s proposed
plan will limit the social costs of the integration process, while delivering at
the same time significant synergies derived from the sharing of platforms,
related components and power-trains.
“The search for a partner for Opel which has been initiated by General
Motors, and which has involved the German government due to the
request for financial assistance, has been a complicated and uneven
process,” said Sergio Marchionne, Chief Executive Officer of Fiat S.p.A.
“We have been involved in these activities for a number of weeks now,
and have tried to follow in a responsible manner the requests made by the
various parties involved in the selection process. The issues that emerged
from the last round of negotiations on Tuesday and Wednesday have left
us perplexed, since we had not been advised until then of certain key
financial factors and data which we consider to be essential to the
formulation of a proper merger offer. Given the nature of the process itself
and its short duration, Fiat has been unable to have full access to the
financial records of Opel to determine its precise financial condition and
thus properly frame a merger proposal that would be fair to General
Motors as the seller and to Fiat S.p.A.”
“The last round of requests which would require Fiat, among other things,
to fund Opel on an emergency basis while the German government
determines the exact timing and conditions of the interim financing, would
expose Fiat to unnecessary and unwarranted risks. It is in fact
unreasonable to expect, on the basis of prudent business judgment and
proper governance of its affairs, that Fiat would provide funds to an
organization whose financial details and position remain unknown to date.
The brevity of time between the request and the date that the commitment
must be made is such that proper due diligence cannot be performed.”
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4 commenti:
Marchionne dimostra ancora una volta la sua serietà. Soldi a vuoto,senza vedere i libri e i numeri, Fiat non ce li mette, a costo di perder la preda. Io da azionista mi sento tutelato, poi vada come vuole; se salta Opel magari rispunterà Peugeot,con meno problemi di quelli di Opel. Roberto(TO)
E' già tutto deciso GM chapter11 e i soldi li mettono i contribuenti e Fiat si fonde con Opel
grazie Paolo per guesto blog!
petyrolio previsto in salita cosa comprare???
eni saipem tenaris???
quialche etf???
The Gambler...appena la merkel gli ha chiesto soldi veri cash è svanito nel nulla !! :-)
ciao
giacomo
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