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Italy business minister welcomes finish of talks on CNH’s Iveco sale to China’s FAW By Reuters 

© Reuters. FILE PHOTO: An Iveco truck is seen on the IAA Industrial Automobiles commerce present in Hanover

ROME (Reuters) – Italian Business Minister Giancarlo Giorgetti on Saturday welcomed the tip of talks over the sale of truckmaker Iveco to Chinese language agency FAW.

Iveco is a part of CNH Industrial (NYSE:), which in flip is managed by Exor (OTC:), the holding firm of Italy’s Agnelli household.

CNH mentioned earlier on Saturday it had terminated discussions with FAW over the Iveco sale however was persevering with to pursue a derivative of the group in early 2022.

“The Italian authorities considers heavy vans to be a strategic nationwide curiosity,” mentioned Giorgetti, whose rightist League occasion has at all times opposed the sale of Iveco to the Chinese language.

He mentioned in a press release that the federal government was prepared to carry talks with CNH to maintain manufacturing in Italy.

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