Intesa gives preliminary OK to 6.3 billion euro state-backed loan for FCA: source

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The loan will be effective when Fiat Chrysler (FCA) completes the approval process with Italy’s export credit agency SACE, through which the state provides its guarantee on 80% of the amount, and obtains a final authorisation and conditions for the loan from the Treasury, the source said.

FCA was not immediately available for comment.

($1 = 0.9117 euros)