Fiat Close to Securing Chrysler Buyout Financing

Fiat SpA's banks could finalize a financing agreement next month that would enable the company to acquire the 41.5% of Chrysler Group LLC that it doesn't already own, according to Reuters.

Unidentified sources tell the news service that Fiat seeks to raise about €3 billion ($3.9 billion) in fresh financing. They add that the Italian company hopes to reach an agreement with Chrysler's minority shareholder by early July on a price for the stake.

Fiat sued that shareholder, a union-run retiree healthcare trust, to resolve their dispute about the value of the trust's holding. The Delaware Court of Chancery has scheduled a hearing on the issue for Thursday.

Analysts say 41.5% of Chrysler is worth $3.5 billion-$4 billion.