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Agnellis End Talks on Iveco With China FAW Amid Italy Opposition


Agnellis End Iveco Talks With China FAW as Italy Opposes
Bloomberg
2 hrs ago
Tommaso Ebhardt
© Bloomberg
Three Stralis Hi-Way trucks, manufactured by Iveco, a unit of Fiat Industrial SpA, are parked during its launch in Turin, Italy, on Sunday, July 1, 2012. Fiat Industrial s commercial-vehicle brands include Iveco, Case and New Holland.
(Bloomberg) The billionaire Agnelli family’s CNH Industrial NV ended talks to sell its Iveco SpA truck and bus unit to China FAW Group Co. after the Italian government signaled it would oppose the deal.
CNH abandoned the talks because the Chinese automotive group didn’t present an acceptable offer for Iveco, according to person familiar with the discussions, who asked not to be named discussing confidential deliberations. Italy’s government had signaled its opposition to CNH selling to a Chinese company and later praised the decision to pull out of the talks. ....

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