Fiat is negotiating with a series of banks to borrow as much as $10 billion to buy the Chrysler Group stake it doesn’t own and refinance both automakers’ debt at lower rates.
According to a report from Bloomberg , which cited people familiar with the matter, Fiat wants to buy the 41.5 percent of Chrysler held by the United Auto Workers’ retiree health-care trust with money borrowed from banks including Bank of America, Deutsche Bank, Goldman Sachs and BNP Paribas.
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