Giovedì, 20 Settembre 2018

Fiat will back RCS capital increase, John Elkann says


Torino, April 9 - Fiat SpA Chairman John Elkann on
Tuesday said Fiat would participate in the 400-million-euro
capital-increase operation being organized by Italian publishing
company RCS, owner of national daily Il Corriere della Sera,
among other companies.
On Tuesday, Elkann, one of the heirs to the Fiat empire and
the controlling Agnelli family's public face, said "Fiat will
adhere to the capital increase (because) the plan is credible".
However, Elkann didn't commit to participating in an
eventual purchase of unsold shares.
"It's very premature, we'll see ahead when there's a better
idea of the amount of unsold shares".
Fiat is one of several members of a shareholder pact that
controls 58% of the Italian publisher, which faces bankruptcy
unless it successfully raises new capital.
Other leading shareholders include merchant bank
Mediobanca, fashion entrepreneur Diego Della Valle (majority
owner of the Tod's Group) and the Benetton family.
According to press reports, not all members of the
shareholder pact agree to the restructuring plan which would be
put in place following the capital increase.

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