Key Developments: Fiat SpA (FIATY.PK)
6.90USD
22 May 2013
$-0.09 (-1.29%)
$6.99
$7.00
$7.09
$6.90
276,230
104,653
$7.09
$4.19
Latest Key Developments (Source: Significant Developments)
Fiat SpA Confirms FY 2013 Revenues, Trading Profit, Net Profit and Net Industrial Debt Guidance
Fiat SpA announced that it has confirmed 2013 guidance as follows: revenues in the EUR 88 billion and EUR 92 billion range, trading profit in the EUR 4.0 billion and EUR 4.5 billion range, net profit in the EUR 1.2 billion and EUR 1.5 billion range, net industrial debt of approximately EUR 7.0 billion. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report for fiscal year 2013 revenues of EUR 87,246.98 million and operating profit of EUR 4,010 million. Full Article
Fiat SpA Near To Securing Finance For Chrysler Buyout-Reuters
Reuters reported that Fiat SpA could secure financing by May for a possible buyout of the rest of Chrysler. Fiat is in advanced talks with banks, which are expected to conclude next month, on financing to buy the 41.5% of Chrysler which is held by VEBA, the United Auto Workers' retirees' healthcare trust. Full Article
Fiat SpA Renews Authorization for Purchase
Fiat SpA announced that it had renewed the authorization for the purchase and disposal of own shares, including through subsidiaries, and the previous authorization given on April 4, 2012 was revoked. The authorization provides for the purchase of a maximum number of shares not to exceed the legally established percentage of share capital or an aggregate value of EUR 1.2 billion, inclusive of the EUR 259 million in Fiat shares already held. As announced, the buy-back program is on hold and the Company has no obligation to buy back shares under the authorization. Full Article
Fiat SpA's Chrysler Group LLC Recalls Some Challengers-Reuters
Reuters reported that Chrysler Group LLC is recalling 4,459 model-year 2013 Dodge Challenger cars to address a potential short circuit that could cause a fire and took the rare step of telling owners to stop driving the affected cars. The U.S. automaker, controlled by Italy's Fiat SpA said about 2,500 of the cars are in owners' hands, while the rest are still with dealers. Of the total with owners, about 2,100 were sold in the United States, about 350 in the Middle East and the rest in Canada, a company spokesman said. Full Article
Fiat SpA Announces Pricing of Offering of EUR 1.25 Billion in Guaranteed 6.625% Senior Notes Due March 2018
Fiat SpA announced that, following the announcement of the launch of a benchmark note issuance denominated in Euro, Fiat SpA confirms that the offering will be of EUR 1.25 billion in principal amount of 6.625% Senior Notes due March 2018, with an issue price of 100% of the principal amount. The closing of the offering is expected on March 15, 2013. The notes will be issued by Fiat Finance and Trade Ltd, societe anonyme, a wholly-owned subsidiary of Fiat SpA, under the Global Medium Term Note Programme guaranteed by Fiat SpA. Full Article
Fiat SpA Plans Issuance of Notes
Fiat SpA announced that it intends to proceed, subject to market conditions, with a benchmark note issuance denominated in EUR. The notes are to be issued by Fiat Finance and Trade Ltd., societe anonyme, a wholly-owned subsidiary of Fiat SpA, under the Global Medium Term Note Programme guaranteed by Fiat SpA. The final terms of the offering will be determined on the basis of market conditions at the time of pricing. In case of issuance, Fiat Finance and Trade Ltd., societe anonyme will make an application for the notes to be admitted to the Official List of the Irish Stock Exchange and traded on its regulated market. Full Article
Fitch Ratings Lowers Fiat SpA's Long Term Debt Rating with Negative Outlook; Confirms Short Term Rating
Fiat SpA announced that Fitch Ratings lowered its rating on Fiat SpA’s long-term debt from BB to BB-. The short-term rating is confirmed at B. The outlook is negative. Full Article
Fiat SpA's Fiat Group Automobiles Announces Reorganization
Fiat SpA announced that Fiat Group Automobiles initiated the procedure to inform trade unions on the transfer of the employees and operations of Fabbrica Italia Pomigliano to Fiat Group Automobiles, expected to take place on March 1, 2013. Full Article
Fiat SpA Approved Bond Issuances of Up to EUR 5 Billion
Fiat SpA announced that the Board of Directors of Fiat, held on January 30, 2013, approved the issuance of one or more bonds, for a total amount of up to EUR 5 billion - or equivalent amount in other currencies - to be placed with institutional investors. Bonds may be issued in one or more tranches, also through controlled companies and guaranteed by Fiat SpA, within December 31, 2014, subject to market conditions. Such issuances aim to optimize the management of consolidated debt, also taking into consideration future redemptions. Full Article
Fiat SpA Announces Not to Recommend FY 2012 Dividend; Confirms FY 2013 Revenues, Trading Profit and Net Profit Guidance
Fiat SpA announced that the Board of Directors, pending approval of Fiat’s 2012 financial statements on February 20, 2013, has decided, for fiscal year 2012, not to recommend a dividend payment on Fiat shares, given the Company’s desire to maintain a high level of liquidity and the existence of certain restrictions on the ability of Chrysler to pay dividends to its members. Fiat SpA also announced that it has confirmed the Company's fiscal year 2013 revenues, trading profit and net profit guidance. The Company expects for fiscal year 2013 revenues in the range of EUR 88 billion and EUR 92 billion, trading profit in the range of EUR 4.0 billion and EUR 4.5 billion and net profit in the range of EUR 1.2 billion and EUR 1.5 billion. Full Article
Fiat says moving headquarters to U.S. not on agenda
MILAN - Italian carmaker Fiat SpA said on Thursday the idea of moving the group's legal headquarters to the United States is not on the agenda.
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