Fiat Seeks €7.8 Billion to Finance Chrysler Merger

Fiat SpA's talks with bankers, which it confirmed in March, are now centering on $10 billion (€7.8 billion) in financing to complete the company's merger with Chrysler Group LLC, Bloomberg News reports.

The news service cites unidentified sources who say the funding would enable Fiat to buy the 41.5% of Chrysler it doesn't already own, then refinance the combined debt of the two carmakers at lower interest rates.

Banks involved in the Fiat talks include Bank of America, Deutsche Bank, Goldman Sachs and PNP Paribas, according to Bloomberg.