Fiat is interested in increasing its stake in the Chrysler Group to 65 percent by buying an additional 3.3 percent.
Fiat is interested in increasing its stake in the Chrysler Group to 65 percent in the near future.
They plan on doing this by exercising their option to acquire an extra 3.3 percent from the UAW's retiree health-care fund. For this to happen, Fiat calculated they have to pay 198M USD for the second segment of the voluntary employees beneficiary association's (VEBA) holding.
Back in July they exercised their option to acquire a first 3.3 percent portion of the remaining VEBA holding, while later on in September they asked a United States court to confirm the price they have to pay in order to increase their stake at Chrysler. Fiat wasn't able to reach an agreement with VEBA which has 41.5 percent of Chrysler, while the rest belongs to the Italian automotive giant.
In the long run, Fiat will want to gain full ownership of Chrysler.