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4-Traders Homepage  >  Equities  >  Italian Stock Exchange  >  Fiat SpA    FIA   IT0001976403

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Fiat And Tata Group To Re-Align Indian Joint Venture

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05/02/2012 | 12:59pm CET

Fiat SpA (FIATY) and Tata Motors Ltd. (TTM) have agreed to revamp an alliance in India, a move that will lead to the Italian auto maker handling the distribution and servicing of its cars in the South Asian country.

The two companies will, however, continue with their equally owned joint venture to manufacture the Fiat and Tata brands of cars as well as their engines and transmissions at a factory at Rajangaon in western India, they said in a joint statement.

Tata Motors is currently managing the distribution of Fiat's products in India.

"As part of the growth plans and in order to provide greater focus on the Fiat brand, Tata Motors will hand over the distribution and service responsibility for Fiat cars in India to a Fiat Group-owned company being formed for this purpose," according to the statement.

-By Santanu Choudhury, Dow Jones Newswires; +91-11-4356-3305; santanu.choudhury@dowjones.com

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Financials (€)
Sales 2016 111 346 M
EBIT 2016 5 062 M
Net income 2016 2 128 M
Debt 2016 5 983 M
Yield 2016 0,06%
P/E ratio 2016 6,48
P/E ratio 2017 5,23
EV / Sales 2016 0,16x
EV / Sales 2017 0,15x
Capitalization 12 277 M
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Mean consensus HOLD
Number of Analysts 31
Average target price 8,59 €
Spread / Average Target -10%
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NameTitle
Sergio Marchionne Chief Executive Officer & Executive Director
John Jacob Philip Elkann Chairman
Richard Keith Palmer Chief Financial Officer
Harald J. Wester Chief Technology Officer
Andrea Agnelli Non-Executive Director
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