Thursday, Jun 30, 2016
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Automotive

Fiat to increase stake in Chrysler

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Sergio Marchionne

ASSOCIATED PRESS Enlarge

TURIN, Italy — Fiat and Chrysler Chief Executive Officer Sergio Marchionne said Monday the Italian automaker will increase its stake in Chrysler by 5 percent in days.

Fiat SpA already controls 25 percent of Chrysler Group LLC, Detroit’s third-largest automaker.

Mr. Marchionne said a few details need to be worked out, according to the ANSA and LaPresse news agencies.

Mr. Marchionne said the increase might be finalized as early as Tuesday, according to ANSA. He was speaking during the presentation of Jeep vehicles near Turin.

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