ROME (AP) — Italian carmaker Fiat says it is consolidating its ownership of Chrysler by exercising an option to purchase around 3.3 percent of Chrysler equity from a trust fund that manages health care for pensioners.
The announcement Tuesday said the purchase in the coming weeks will raise Fiat's stake in Chrysler to 61.8 percent,
VEBA, as the trust fund is called, is the only other entity with a stake in the company now that government loans to the Detroit automaker have been paid back.
Recommended For You
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.