On July 8, 2013, Fiat has exercised an option to raise its stake in Chrysler by 3.3%, according to a news report published on autonews.com.
Fiat has exercised three of its six-monthly options, increasing its stake to 68.49%. The automaker has been exercising options since mid-2012 to buy holdings of about 3.3% from the VEBA, a medical-benefits trust for the U.S. carmaker’s retirees.
Fiat intends to take full control of Chrysler and create a “merged company that would be able to compete better with industry leaders Toyota, General Motors and Volkswagen.”
Source: Automotive News
