Word: storebrand
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Dates: during 2002-2002
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...Fiat's chronic 16.6 billion debt to keep it from junk status. But Fiat's problems continue, and the controlling Agnelli family admitted it may need to sell the auto division. The Norse force Norway's largest bank, Den Norske Banke, agreed to buy the country's top insurer, Storebrand, for $1.96 billion in cash and stock. The deal should help fend off foreign predators. Pump up the margins France's Michelin will sever ties with the European arm of General Motors in order to focus on higher-margin markets. GM accounts for about 5% of Michelin's worldwide revenue...
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