Fiat transaction "expected to close"
A state secretary with the ministry of economy says that he expects the closing of the transaction with Fiat by the end of the year.
Monday, 14.12.2009.
10:42
A state secretary with the ministry of economy says that he expects the closing of the transaction with Fiat by the end of the year. This would also include the signing of an annex to the contract that the Italians have with Serbia's Zastava carmaker, Nebojsa Ciric was quoted as saying. Fiat transaction "expected to close" He said in a statement published by Belgrade's tabloid Press on Sunday that "this implies" that Fiat would pay EUR 100mn in cash, after which "Serbia would invest EUR 50mn in facilities and machines". Ciric also said that the same amount would be paid in 2010. Representatives of the Serbian government and Fiat signed last September a strategic agreement on joint investment in Zastava Cars, worth about EUR 950mn. The new company, which is part of Fiat Group, would employ 2,400 people, while the plant would produce 200,000 cars a year, starting from the end of 2010, earlier announcements said.
Fiat transaction "expected to close"
He said in a statement published by Belgrade's tabloid Press on Sunday that "this implies" that Fiat would pay EUR 100mn in cash, after which "Serbia would invest EUR 50mn in facilities and machines".Ćirić also said that the same amount would be paid in 2010.
Representatives of the Serbian government and Fiat signed last September a strategic agreement on joint investment in Zastava Cars, worth about EUR 950mn.
The new company, which is part of Fiat Group, would employ 2,400 people, while the plant would produce 200,000 cars a year, starting from the end of 2010, earlier announcements said.
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