Friday, April 29, 2016
Current Weather
Loading Current Weather....
Published: Wednesday, 7/4/2012

Fiat to increase stake in Chrysler to 61.8%


ROME -- Italian carmaker Fiat SpA said Tuesday it is consolidating its ownership of Chrysler LLC by exercising an option to purchase about 3.3 percent of Chrysler equity from a trust fund that manages health care for pensioners.

The purchase will raise Fiat's stake in Chrysler to 61.8 percent.

The trust fund is the only other entity with a stake in the company now that government loans to the Detroit automaker have been paid back. Sergio Marchionne, Fiat's chairman, said the company would buy the remaining Chrysler equity from the fund "at the right time, when conditions are created" but probably before 2016.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories