WEATHER ALERT: Winter Weather Advisory in effect until late Sunday night [MORE INFO]

Fiat Raises Stake In Chrysler

Fiat says they have raised their stake in Chrysler from twenty percent to twenty-five percent. The announcement came Monday at the North American International Auto Show in Detroit.

Fiat CEO Sergio Marchionne says they continue to gain financial ground towards their IPO later this year.

“That’s a benchmark issue, it’s one of the earned out hurdles we had. We got three of those at five percent apiece, and hopefully we” get the other two at five percent apiece  this year, so we’ll get up to thirty-five,” Marchionne said.

Marchionne also wants to repay the  $7.5 billion U.S. and Canadian government bailout before year’s end.

The auto show will be open to the public Jan. 15-23.

– More Auto Show Coverage

– Your Guide to the Auto Show –

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Detroit

Best Christmas Light Displays
Best Holiday Drink Ideas

Watch & Listen