John Elkann, chairman of Fiat and scion of the Agnelli family, has met representatives from the Chinese Investment Corporation in Italy and China in recent weeks as Fiat and the Agnelli holding company seek to expand their foothold in Asia.
Mr Elkann, who runs Exor, the Agnelli family fund that controls 30 per cent of Fiat and Fiat Industrial, met CIC officials in Turin and Rome as well as in Beijing, according to people familiar with the discussions.
A person familiar with the talks described them as “reciprocal”. China’s sovereign wealth fund is considering investments in industrial assets in Europe, and Fiat, Fiat Industrial and Iveco, its truck business, are looking to expand in Asia.
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