Fiat increased its stake in Chrysler to 30%

Fiat increased its stake in Chrysler to 30%

Fiat Group has increased its stake in Chrysler Group by 5 percentage points to 30%, after U.S. auto manufacturer to fulfill two objectives imposed by the U.S. government during the period which gave financial support.

Chrysler's sales exceeded the target at international level and has an agreement to expand presence outside North America through the Fiat dealer network, Mediafax.

The objectives were part of a complex agreement between the U.S. government and Fiat concluded in 2009 that the Italian company has obtained a stake in Chrysler, as well as management control.

Under the agreement, Chrysler and Fiat stake may increase if U.S. producer meet certain conditions to ensure its profitability.

Fiat increased its stake in January 2011 from 20 to 25% as a result of reaching the first of the three previously established performance objectives, providing 1.4 FIRE engine that will power the Fiat 500 in the U.S. market.

After increasing 30% shareholding Fiat, UAW union will share 59.2%, the U.S. Treasury 8.6% and 2.2% of the Canadian government.

Source: http://www.fiat.com/


As you browsed 'Fiat increased its stake in Chrysler to 30%' you may find interest in following news . . .

Comments

Post new comment