annual report - FIAT SpA

38. Subsequent events
� On 10 January, Fiat increased its stake in Chrysler Group LLC from 20% to 25% following achievement of the
first of the three Performance Events (i.e., attainment of US regulatory approval and a commitment to produce
an engine based on Fiat’s FIRE family in the USA) stipulated in the alliance agreement.
� On 9 February, Moody’s Investors Service completed the review of Fiat S.p.A.’s rating for possible for
downgrade initiated on 21 July 2010. Fiat S.p.A.’s long-term debt rating was affirmed at Ba1 and its short-term
rating at “Not Prime”. The outlook is negative.
� On 11 February, Fiat Powertrain and Penske Corporation reached an agreement for the purchase, by Fiat
Powertrain, of Penske Corporation’s 50% stake in VM Motori S.p.A. The agreement is subject to the customary
clearance by the relevant competition authorities. VM Motori, headquartered in Cento (Italy), is a longestablished
company specialized in the design and manufacture of diesel engines based on proprietary
technology. Pursuant to the agreement, VM Motori will be subject to the joint control of Fiat Powertrain and GM
(which acquired a 50% interest in the company in September 2007).
� On 15 February, In a meeting held at the Unione Industriale di Torino, Fiat presented trade unions with a plan
for relaunch of activities at the Officine Automobilistiche Grugliasco (formerly Carrozzeria Bertone), which has
been inactive for several years. The plan centers around a €500 million investment (to begin in the second half
of 2011) for production of a new E-segment Maserati for international distribution. Start of production is planned
for December 2012.
18 February 2011
On behalf of the Board of Directors
/s/ John Elkann
John Elkann
CHAIRMAN
Fiat Group Consolidated Financial Statements at 31 December 2010 222