Fiat today exercised an option to raise its stake in Chrysler by 3.3 percent.<\/p>\n
The move is part of CEO Sergio Marchionne’s step-by-step purchases intended to lead to full control of Chrysler and the creation of a merged company that would be able to compete better with industry leaders Toyota, General Motors and Volkswagen.<\/p>\n
Fiat has been exercising options since mid-2012 to buy holdings of about 3.3 percent from the VEBA, a medical-benefits trust for the U.S. carmaker’s retirees.<\/p>\n
Including today’s purchase, Fiat has exercised three of its six-monthly options, increasing its stake to 68.49 percent.<\/p>\n
Fiat has said it wants full control of Chrysler, which would give it access to some of Chrysler’s cash flow for investments in new models.<\/p>\n
Chrysler has become Fiat’s most reliable profit generator as the Italian company struggles to end losses in Europe that totaled 704 million euros ($903 million) in 2012 amid a<\/p>\n","protected":false},"excerpt":{"rendered":"
Fiat today exercised an option to raise its stake in Chrysler by 3.3 percent.<\/p>\n
The move is part of CEO Sergio Marchionne’s step-by-step purchases intended to lead to full control of Chrysler and the creation of a merged company that would be able to compete better with industry leaders Toyota, General Motors and Volkswagen.<\/p>\n
Fiat has been exercising options since mid-2012 to buy holdings of about 3.3 percent from the VEBA, a medical-benefits trust for the U.S. carmaker’s retirees.<\/p>\n
Including today’s purchase, Fiat has exercised three of its six-monthly options, increasing its stake to 68.49 percent.<\/p>\n
Fiat has said it wants full control of Chrysler, which would give it access to some of Chrysler’s cash flow for investments in new models.<\/p>\n
Chrysler has become Fiat’s most reliable profit generator as the Italian company struggles to end losses in Europe that totaled 704 million euros ($903 million) in 2012 amid a<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,13,8],"tags":[20,21,22,14,23],"class_list":["post-134","post","type-post","status-publish","format-standard","hentry","category-automakers","category-manufacturing","category-production","tag-buyout","tag-chrysler","tag-fiat","tag-financial","tag-merger"],"_links":{"self":[{"href":"https:\/\/mkmcars.com\/1\/wp-json\/wp\/v2\/posts\/134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mkmcars.com\/1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mkmcars.com\/1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mkmcars.com\/1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mkmcars.com\/1\/wp-json\/wp\/v2\/comments?post=134"}],"version-history":[{"count":0,"href":"https:\/\/mkmcars.com\/1\/wp-json\/wp\/v2\/posts\/134\/revisions"}],"wp:attachment":[{"href":"https:\/\/mkmcars.com\/1\/wp-json\/wp\/v2\/media?parent=134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mkmcars.com\/1\/wp-json\/wp\/v2\/categories?post=134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mkmcars.com\/1\/wp-json\/wp\/v2\/tags?post=134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}