Italy says Fiat-Chrysler deal premise to complete planned investments

MILAN Thu Jan 2, 2014 12:14pm EST

MILAN Jan 2 (Reuters) - Italy's industry minister said on Thursday Fiat's $4.35 billion deal to gain full control of Chrysler Group LLC was a premise for it to complete investments it had already planned in Italy.

"The agreement is the premise for the new Fiat-Chrysler group to further consolidate its position in Europe and internationally, putting the factories, know how and Italian technology at the centre of its growth strategies," Industry minister Flavio Zanonato said in a statement.

Fiat has said it plans to build Jeeps and a new line of Alfa Romeos in Italy for export to markets in Asia, Latin America and the United States to offset flagging demand in crisis-hit Italy and to conserve jobs.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article