Fiat moving toward 51% ownership of Chrysler

Fiat could very likely own 51% of Chrysler in the next few years. If that happens Sergio Marchionne might have made the biggest and smartest one sided bet of the great recession!

From Detroit Free Press:

Sergio Marchionne, CEO of Fiat and Chrysler, told analysts Thursday that Fiat plans to raise its ownership of Chrysler from 20% to 35% by the end of 2011 “barring unforeseen circumstances.”

Marchionne’s comments came in a conference call after the Italian automaker reported third-quarter earnings of 170 million euros, or $236 million.

Fiat can increase its Chrysler stake in 5% increments by meeting three objectives. The first objective, to be achieved early next year, is the launch of a 1.4-liter four-cylinder MultiAir engine built at its Dundee, Mich., factory, in the Mexican-assembled Fiat 500 minicar.

Read the full article.

  

Related Posts

Leave a Reply

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>