Giovedì, 20 Settembre 2018
GENEVA

Chrysler merger 'possible' by year's end says Marchionne

Geneva, March 6 - Fiat's planned merger with
Chrysler is "possible" by the end of the year, CEO Sergio
Marchionne said Wednesday.
If The Turin car giant reaches a deal with Chrysler's union
retirement trust fund trust VEBA to buy up its remaining stake
in the Detroit No.3,, he said, "the merger is technically
possible by the end of the year.
On January 3 Fiat said it would exercise an option to
raise its stake in Chrysler by 3.3% to 65.17%.
The second chunk to be taken from VEBA - after a first 3.3%
share acquired in July - would cost $198 million, it said.
Fiat took control of tottering Chrysler after it filed
for bankruptcy protection in 2009 and it has since increased its
stake from 20% after meeting a series of performance targets
agreed with the American government.

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