Thursday, Aug 25, 2016
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Automotive

Fiat reportedly to boost Chrysler stake soon

MILAN, Italy — Fiat SpA aims to raise its Chrysler Group LLC stake to 30 percent from 25 percent within the next few weeks after it clears two U.S. government hurdles linked to receiving the increased holding, two people familiar with the plan said.

Chief Executive Officer Sergio Marchionne plans to sell Chrysler models under the Fiat brand in Brazil to reach the first goal that 90 percent of Fiat’s Latin American dealers offer Chrysler vehicles, the people said, declining to be identified because the plans are private.

The plan would allow Mr. Marchionne to sidestep negotiations with dealers on Chrysler contracts and avoid the cost of introducing the brand in Brazil, one of the people said.

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