Tags: Fiat | Chrysler Stake

Fiat Boosts Its Stake in Chrysler to 30 Percent

Tuesday, 12 Apr 2011 11:03 AM

Chrysler Group LLC says Fiat has raised its ownership stake in the U.S. automaker by 5 percent.

The Italian company now owns 30 percent of Chrysler, effective Tuesday.

Fiat got the added stake after boosting Chrysler sales outside North America and recruiting dealers in Europe and Brazil to sell Chrysler vehicles. Those were milestones set by the U.S. government, which recruited Fiat to run Chrysler after Chrysler filed for bankruptcy protection in 2009.

Fiat got a 20 percent share of Chrysler in 2009. In exchange, Chrysler got small-car and clean-engine technology and Fiat's management know-how.

Fiat expects to raise the stake to 35 percent by the end of this year by making car that gets 40 miles per gallon of gas.

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Chrysler Group LLC says Fiat has raised its ownership stake in the U.S. automaker by 5 percent.The Italian company now owns 30 percent of Chrysler, effective Tuesday.Fiat got the added stake after boosting Chrysler sales outside North America and recruiting dealers in...
Fiat,Chrysler Stake
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2011-03-12
Tuesday, 12 Apr 2011 11:03 AM
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