GM Generali

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Fiat SpA (F.MI) Chief Executive Sergio Marchionne is meeting with advisors and German government officials up until Wednesday, when it will submit a non-cash offer for General Motors's (GM) German unit Adam Opel AG, a person familiar with the situation said Monday.

"The plan that Fiat has been drafting with its advisors doesn't include plant closures in the European countries where the U.S.-based carmaker is currently operating," the person said, adding Fiat isn't going to offer any cash to General Motors for its European operations.

The industrial plan drafted by Fiat also includes the reduction of models produced by GM Europe units Opel and Saab, the person said. This could pave the way for Fiat to reduce costs and have more long-term synergies across Europe.

Fiat currently produces A-segment models 500 and Panda while Opel produces the Agila. But C-segment, the one that counts Fiat's Bravo, Alfa Romeo's Alfa 147 and Opel's Astra, is crucial for most European and Asian carmaker, a segment which accounts for 27% of the total European passenger car market.

In the last four weeks, Marchionne has traveled extensively to the U.S. and Germany in an attempt to ink a three-way merger between Fiat-Chrysler and General Motors' European operations.

Fiat is seeking financial support from local governments in order to succeed and become a rival to global players like Japan Toyota (TM) or German Volkswagen (VOW.XE).

The person said Marchionne is personally involved in drafting the final details of the plan, constantly adding or removing elements until the very last minute.

At 0920 GMT shares were unchanged at EUR7.29 on an overall negative market.

Fiat wasn't immediately reachable for a comment.

-By Sabrina Cohen, Dow Jones Newswires; +39 02 5821 9906; sabrina.cohen@dowjones.com