• Most Popular
  • Most Shared

FACTBOX: Fiat's previous dalliances with other car makers

Thu Apr 30, 2009 11:30pm EDT

(Reuters) - Apart from the purchase of a few brands like Ferrari, Fiat SpA's history is full of failed attempts to team up with major car makers, most notably its break-up with General Motors Corp in 2005.

Deals  |  Inflows Outflows  |  Italy

Its partnership with Cerberus Capital Management LP affiliate Chrysler, announced on Thursday, is the second time that it has tried to join forces with the U.S. car maker.

Fiat has joint ventures and other arrangements to collaborate with the likes of PSA Peugeot Citroen and Tata Motors to share costs of developing and producing vehicles.

Below is a chronology of key events.

1960s - Fiat tries to buy a stake in Citroen but is stopped by French President Charles de Gaulle for protectionist reasons.

1969 - It buys Lancia and control of Ferrari. It later comes to own 85 percent of the luxury sports car maker.

1980s - It holds protracted talks with Ford Motor Co to pool their European car activities but gives up in 1985 when it realizes Ford wants to control the joint venture.

1986 - Fiat buys Alfa Romeo from the Italian government.

1991 - Fiat and Ford merge their farm and construction equipment divisions to form New Holland NV, the majority of which comes to be held by Fiat.

1990-1991 - Fiat, along with Renault SA and Volvo AB, discusses with Chrysler possible business ties but gets nowhere.

1999 - It tries to buy Volvo's car operations but loses out to Ford.

1999 - Fiat's New Holland NV unit buys U.S. peer Case Corp for $4.3 billion, creating CNH Global NV, 89.3 percent of which is eventually owned by Fiat.

2000 - Fiat rejects advances by DaimlerChrysler AG.

2000 - It later sells 20 percent of Fiat Auto, its core car business, to GM in exchange for a little more than 5 percent in the giant U.S. car maker.

2005 - GM pays Fiat more than 1.0 billion euros to get out of the obligation to buy the rest of Fiat Auto, effectively ending their relationship.

2009 - Fiat and Chrysler announce a letter of intent to form a partnership. Fiat would take a minority stake in Chrysler and get access to the U.S. market in exchange for technology to make small cars and access to foreign markets. No cash is to change hands.

(Sources: Fiat, "La Fiat dopo la Fiat" by Giuseppe Berta, Reuters)

(Reporting by Gilles Castonguay; editing by Patrick Fitzgibbons and Gerald E. McCormick)



More from Reuters

A man dressed as talks on a telephone during his visit at the Benjamin Bloom National Children Hospital in San Salvador December 17, 2009.

Making the call on stocks

Looking for something special to put under your favorite investor's tree? These shares may provide the best upside surprise.  Full Article 

A customer orders food at the newly opened Island Salad restaurant in Harlem in New York December 16, 2009. REUTERS/Finbarr O'Reilly

Food fight in Harlem

In a neighborhood where hamburgers and tacos reign supreme, one entrepreneur is waging war on obesity -- one salad at a time.  Full Article