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 High Schools Selling 'Oxford Strong' T-Shirts To Help CommunityThe Italian automaker says it will make the move once Chrysler repays government loans, hopefully by the end of June.
READ MORE: Meijer Offering Free N95 Masks To Customers At StoresAnalyst 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: Wayne County Partnering With CDC To Hold COVID-19 Testing Site In DearbornFiat expects to gain another five percent share by the end of the year, giving it majority ownership of Chrysler.