Fiat has acquired an additional 3.3 percent stake in Chrysler which means the Italian company has a 68.49-percent control.

Fiat has acquired an additional 3.3 percent stake in Chrysler which means the Italian company has a 68.49-percent control.

On numerous occasions Fiat expressed its intentions of gaining full control of Chrysler and now they are one step closer as they have exercised an option to raise stake by 3.3 percent. Taking into account this purchase, Fiat has exercised three of its six-monthly options and has raised stake to 68.49 percent. Until July 2014, Fiat has the right to further increase its stake to 75 percent.

The VEBA retiree medical benefits trust is in control of the remaining stake but the two sides can't come to an agreement as far as pricing is concerned. The two are in litigation in a Delaware court over this problem, with Fiat valuing the rest of Chrysler at 4.2 billion USD while VEBA says it's worth 10.3 billion USD.

A late May report indicated Fiat wants to take a 10 billion USD loan from several banks to purchase the remainder of Chrysler and also finance the debt of both companies at a lower interest rate.

Be part of something big