CBS62logoNEW2013_blue_final_header_White wwj950-sm2011b 971-ticket-35smb 35h_CBSSportsRad_Detroit

Local

Fiat Looking To Increase Ownership Stake In Chrysler

View Comments
fiat image

To fuel your love of cars,

visit the Autos section.

  autos arrows plug v2 Fiat Looking To Increase Ownership Stake In Chrysler

DETROIT (WWJ) – Fiat looking to grab a bigger slice of the Chrysler pie.

Fiat is preparing to raise its ownership stake in Chrysler from its current 30% to 46%, spending 1.3 billion dollars in order to increase its interest in Chrysler.

The Italian automaker says it will make the move once Chrysler repays government loans, hopefully by the end of June.

Analyst Mike Robinet with IHS Automotive sees this as a move by Fiat CEO Sergio Marchionne to nudge aside other large minority owner to give Fiat an opportunity to run Chrysler without interference.

Fiat expects to gain another five percent share by the end of the year, giving it majority ownership of Chrysler.

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,870 other followers