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.READ MORE: Michigan Matters: The Political Road Ahead
The Italian automaker says it will make the move once Chrysler repays government loans, hopefully by the end of June.READ MORE: 'My Name Is Sara' Film On Holocaust Survivor Premieres In Metro Detroit
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.MORE NEWS: Dearborn Homecoming Festival Kicks Off This Weekend
Fiat expects to gain another five percent share by the end of the year, giving it majority ownership of Chrysler.