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.
