Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

News SummaryMost relevantAll newsSector newsTweets 

Fiat, Sberbank Agree To Make Jeeps In Russia - Report

share with twitter share with LinkedIn share with facebook
share via e-mail
02/26/2012 | 02:18pm CEST

Italian auto maker Fiat SpA (>> Fiat SpA) and Russian state bank OAO Sberbank (SBER.RS) have agreed to form a partnership to build vehicles under the Jeep brand in Russia, whose market is growing faster than the rest of Europe, according to a Sunday report in Italian newspaper Corriere della Sera.

Fiat and Sberbank have signed a letter of intent to assemble vehicles in two factories, the report says, without citing sources.

They will invest EUR850 million in the first one near St. Petersburg where it will eventually produce 120,000 vehicles a year. The second factory will be near Moscow, where the luxury Zil cars for Kremlin officials used to be made.

Although the factories will be able to produce different models, most of them will be sport- utility vehicles, or SUVs, according to the report. Jeep is best known for its SUVs. It belongs to Chrysler Group LLC, the U.S. auto maker majority-owned by Fiat.

Under the terms of the letter of intent, Fiat will own 80% of the partnership, while Sberbank will hold the other 20%, according to the report, adding that Sberbank will provide it with all the financing.

Fiat declined to comment.

The partnership is the outcome of an initiative by the Russian government to promote direct investment in its automotive industry.

In June 2011, it received proposals from various manufacturers, including Fiat, which offered to invest $1.1 billion to build two factories.

Fiat had previously tried to form a partnership with OAO Sollers (SVAV.RS). It failed, losing out to Ford Motor Co. (>> Ford Motor Company).

-By Gilles Castonguay, Dow Jones Newswires; +39 348 596 5667; [email protected]

Stocks mentioned in the article : Ford Motor Company, Fiat SpA, Sberbank Rossii OAO, Sollers OAO
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on FIAT SPA
05/25 GM is accused in lawsuit of cheating on diesel truck emissions
05/25DJGENERAL MOTORS : GM Sued by Diesel Truck Owners Over Emissions -- 2nd Update
05/25 FIAT CHRYSLER AUTOMOBILES : Awards galore for Fiat advertisements
05/25 FIAT CHRYSLER AUTOMOBILES : FCA and IVECO provide the fleet for the G7 summit in..
05/25 FIAT CHRYSLER AUTOMOBILES : Software update can fix Fiat Chrysler's U.S. diesel ..
05/24 FIAT CHRYSLER AUTOMOBILES : ++ Swift solution to diesel case, FCA tells judge ++
05/24 Big oil, banks gives Europe stability, autos driven lower by Fiat
05/24 FIAT CHRYSLER AUTOMOBILES : United States Files Complaint Against Fiat Chrysler ..
05/24 FIAT CHRYSLER AUTOMOBILES : Mopar for the new Fiat 500L
05/24 FIAT CHRYSLER AUTOMOBILES : U.S. Justice Department sues Fiat Chrysler over dies..
More news
Sector news : Automobiles & Multi Utility Vehicles
08:48aDJVOLKSWAGEN : Ex-VW Official to Stay in Jail -- WSJ
05/25DJFORD MOTOR : Announces More Management Changes--2nd Update
05/25DJFORD MOTOR : Announces More Management Changes--3rd Update
05/25 GM is accused in lawsuit of cheating on diesel truck emissions
05/25DJGENERAL MOTORS : GM Sued by Diesel Truck Owners Over Emissions -- 2nd Update
More sector news : Automobiles & Multi Utility Vehicles
Financials (€)
Sales 2017 115 517 M
EBIT 2017 6 696 M
Net income 2017 3 097 M
Debt 2017 4 063 M
Yield 2017 0,12%
P/E ratio 2017 4,74
P/E ratio 2018 3,99
EV / Sales 2017 0,16x
EV / Sales 2018 0,14x
Capitalization 14 451 M
More Financials
Duration : Period :
Fiat SpA Technical Analysis Chart | FIA | IT0001976403 | 4-Traders
Full-screen chart
Income Statement Evolution
More Financials
Mean consensus HOLD
Number of Analysts 28
Average target price 10,6 €
Spread / Average Target 13%
Consensus details
EPS Revisions
More Estimates Revisions
Sergio Marchionne Chief Executive Officer & Executive Director
John Jacob Philip Elkann Chairman
Richard Keith Palmer CFO & COO-Systems & Castings
Harald J. Wester Chief Technology Officer
Andrea Agnelli Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
FIAT SPA18.17%16 177
FERRARI NV46.35%16 179
More Results