Fiat will purchase a 6% share of Chrysler from the U.S. Government. Fiat’s move will give it a majority 52% share in the American carmaker, in which it had gradually increased stakes ever since it bought a 20% share back in 2009 in the wake of the global financial crisis.
Fiat has released a statement to inform the U.S. Treasury of its option to purchase, and the price will be negotiated within 10 working days. Fiat has also indicated that it intends to up its stake in Chrysler to 57% by the end of the year.
Chrysler has announced last week that it had repaid US$7.6 billion to the U.S. and Canadian governments in loans, six years ahead of schedule, and that it had posted a profit of US$116 million, its first quarterly profit ever since it emerged from bankruptcy.
Source: Fiat
Fiat has released a statement to inform the U.S. Treasury of its option to purchase, and the price will be negotiated within 10 working days. Fiat has also indicated that it intends to up its stake in Chrysler to 57% by the end of the year.
Chrysler has announced last week that it had repaid US$7.6 billion to the U.S. and Canadian governments in loans, six years ahead of schedule, and that it had posted a profit of US$116 million, its first quarterly profit ever since it emerged from bankruptcy.
Source: Fiat
