Fiat pays first installment of deposit

Italian Fiat has paid EUR 98mn to the account of the joint company founded with the Serbian government, Fiat Automobiles Serbia.

Izvor: B92

Tuesday, 29.12.2009.

14:53

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Italian Fiat has paid EUR 98mn to the account of the joint company founded with the Serbian government, Fiat Automobiles Serbia. The company already paid EUR 2mn to the newly formed firm. Fiat pays first installment of deposit Fiat is now the majority owners of the joint company with 67 percent of the capital, while the Serbian government retains 33 percent. According to the signed annex agreement, Fiat will pay another EUR 100mn next year, of a total EUR 700mn that is planned. The production of two new Fiat models is expected to begin in the fall of 2011 in the Kragujevac-based Zastava factory. This is the first investment made by Fiat in the factory since the company and the Serbian government signed an agreement for joint investments in the automobile factory in September of last year.

Fiat pays first installment of deposit

Fiat is now the majority owners of the joint company with 67 percent of the capital, while the Serbian government retains 33 percent.

According to the signed annex agreement, Fiat will pay another EUR 100mn next year, of a total EUR 700mn that is planned.

The production of two new Fiat models is expected to begin in the fall of 2011 in the Kragujevac-based Zastava factory.

This is the first investment made by Fiat in the factory since the company and the Serbian government signed an agreement for joint investments in the automobile factory in September of last year.

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