Britain’s Barclays Plc said it was buying a majority stake in Italian group Fiat’s Iveco vehicle finance unit for 66.5 million pounds ($124 million) to boost its commercial vehicle financing in Europe.
The banking group said its Barclays Asset and Sales Finance unit would form a new company with Iveco to provide vehicle finance and leasing services to Iveco customers, initially in the UK, Italy, France, Germany and Switzerland.
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