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Fiat exercises option to buy additional 3.3% of Chrysler shares

Purchase brings closer a merger of the two automakers

img-5Fiat today exercised an option to raise its stake in Chrysler by 3.3 percent.

The move is part of CEO Sergio Marchionne’s step-by-step purchases intended to lead to full control of Chrysler and the creation of a merged company that would be able to compete better with industry leaders Toyota, General Motors and Volkswagen.

Fiat has been exercising options since mid-2012 to buy holdings of about 3.3 percent from the VEBA, a medical-benefits trust for the U.S. carmaker’s retirees.

Including today’s purchase, Fiat has exercised three of its six-monthly options, increasing its stake to 68.49 percent.

Fiat has said it wants full control of Chrysler, which would give it access to some of Chrysler’s cash flow for investments in new models.

Chrysler has become Fiat’s most reliable profit generator as the Italian company struggles to end losses in Europe that totaled 704 million euros ($903 million) [...]

2019 Alfa Romeo 4C Spider Superbike Collection 7 Ducati's, One Aprilia & Parts Ferrari 360 - Azzurro California 2020 Corvette C8 2LT Z51 2019 Corvette C7 ZR1 2019 Hellcat Redeye Widebody WELCOME To Brennan Auto Group Brennan Auto Group was formed by Bill Brennan many years ago. An avid car fanatic, Bill has spent many years modifying, restoring, building, and racing cars. Becoming a specialized automotive retailer enables him to share his passion for cars by matching buyers and sellers with cars of their dreams. Bill has owned hundreds of cars over the years, and is well known in the South Florida automotive culture as an "Automotive Enthusiast". He is active on Ferrari Chat, and very involved on many other automotive forums such as the RX7 Club and Mini Mania Vintage Minis. His favorite thing to do is to talk about cars! Since its inception, Brennan Auto Group has sold many types of vehicles ranging from original Mini Coopers to Ferraris and Lamborghinis. Whether you have a special request for a specific car, or are looking to increase your own personal fleet, Bill has the connections and ability to find what you are looking for. Bill and his wife Amy are very active in many charitable causes. They hel [...]

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Brennan Auto Group was formed by Bill Brennan many years ago. An avid car fanatic, Bill has spent many years modifying, restoring, building, and racing cars. Becoming a specialized automotive retailer enables him to share his passion for cars by matching buyers and sellers with cars of their dreams. Bill has owned hundreds of cars over the years, and is well known in the South Florida automotive culture as an "Automotive Enthusiast". He is active on Ferrari Chat, and very involved on many other automotive forums such as the RX7 Club and Mini Mania Vintage Minis. His favorite thing to do is to talk about cars! Since its inception, Brennan Auto Group has sold many types of vehicles ranging from original Mini Coopers to Ferraris and Lamborghinis. Whether you have a special request for a specific car, or are looking to increase your own personal fleet, Bill has the connections and ability to find what you are looking for. Bill and his wife Amy are very active in many charitable causes. They help feed families on Thanksgiving, send school supplies to underprivileged children, and distribute toys to several day care centers during the holidays. Bill also has been on the organizing committee of the "South Florida Exotic Car Toy Rall [...]

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