It is no secret that Fiat is aiming to increase its global presence on its own or through its subsidiary brands. For example Maserati has a slew of models in the pipeline while Chrysler - largely owned by Fiat - has plans for Jeep.
Amidst all this, Fiat - who owns 61.8 percent of American based Chrysler Group - wants to increase its stake to 65 percent. Though only a small 3.2 percent, Fiat estimates it has to pay $198 million (S$243 million) to buy over the shares from the UAW (United Auto Workers) retiree healthcare fund. This contrasts an initial bid of $342 million (S$419 million) to increase shares to almost 62 percent as accounted by the minority UAW.
Fiat has consulted a U.S. court to confirm the price of the shares and expects the issue to be resolved 'within the next several months'.
Amidst all this, Fiat - who owns 61.8 percent of American based Chrysler Group - wants to increase its stake to 65 percent. Though only a small 3.2 percent, Fiat estimates it has to pay $198 million (S$243 million) to buy over the shares from the UAW (United Auto Workers) retiree healthcare fund. This contrasts an initial bid of $342 million (S$419 million) to increase shares to almost 62 percent as accounted by the minority UAW.
Fiat has consulted a U.S. court to confirm the price of the shares and expects the issue to be resolved 'within the next several months'.
