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Re: GM Purchase
Posted by b_thom (more from b_thom) on Thu, 16 Mar 2000 10:25:45
In Reply to: , Kok Chen, Sat, 17 Dec 1988 12:00:00 

Today, I saw this on http://www.bloomberg.com
:

******************
General Motors, Fiat to Combine Engine and Purchasing Units, Swap Shares
By Dan Liefgreen and John Glover

General Motors and Fiat Swap Shares, Create Alliance (Update5) 

(Updates with detail on Brazil, Argentina in 3rd section.) 

Turin, Italy, March 13 (Bloomberg) -- General Motors Corp.
and Fiat SpA will combine engine-manufacturing and purchasing
businesses in Europe and Latin America to cut costs. The world's
biggest carmaker will swap 5.1 percent of its stock for a 20
percent stake in Fiat's auto unit. 

GM will pay $2.4 billion for the stake in Fiat Auto, valuing
the unit at about $12 billion. The transaction also brings
together the carmakers' credit units.
``Fiat has extracted quite a good price,'' said John Lawson,
an analyst at Salomon Smith Barney in London.
************************

50% of SAAB costs $125 million, and 20% of Fiat costs $2.4 billion. Of
course, Fiat sells a lot more cars. Just imagine - Bill Gates could buy
all of Fiat and have $80 billion left over. Or, he could buy all of GM
and have $45 billion left over. Or, he could buy both and have $33
billion left over.
 Doesn't Fiat own part of Alfa? The Milano and one model SAAB shared a
platform, did they not?
Blair
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