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Fiat Completes VM Motori Acquisition
Fiat SpA, which has owned half of diesel engine maker VM Motori SpA since 2010, has acquired the other half from General Motors Co. for €34 million.
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Fiat SpA, which has owned half of diesel engine maker VM Motori SpA since 2010, has acquired the other half from General Motors Co. for €34 million.
GM said last month it was exercising an option to sell its 50% stake in the 66-year-old Italian company.
Fiat and GM each acquired half of VM Motori from Penske Corp. three years ago. The company has supplied diesels to Alfa Romeo, Chrysler, Ford, GM and Land Rover and to maker of off-road vehicles and boats.
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