Fiat Chrysler asked Rome for a three-year state-backed loan for its Italian operations: union

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FCA confirmed to UILM that it had asked Rome for a loan to be paid back in three years, UILM leaders Rocco Palombella and Gianluca Ficco said in a statement.

“FCA’s request is for a loan addressed exclusively to the Italian part of the group and would be aimed at feeding the numerous suppliers, as well as facilitating a 5 billion euro investment plan for our country, in a context of substantial lack of sales and therefore of turnover,” they said.

The automaker is in talks with Intesa Sanpaolo (MI:ISP) over a 6.3 billion euro ($6.8 billion) loan backed by the Italian government to help the automaker weather the coronavirus crisis, two sources close to the matter said on Friday.

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