Tags: Fiat | Chrysler | Stake | IPO

Fiat May Boost Chrysler Stake to More Than 51% Before IPO

Wednesday, 25 May 2011 10:35 AM EDT

Fiat SpA may boost its stake in Chrysler Group LLC to more than 51 percent before an initial public offering of the U.S. automaker, Sergio Marchionne, chief executive officer of both companies, told reporters in Turin, Italy today.

Fiat has the right to buy additional shares in the U.S. company beginning today, the CEO said. Fiat may buy shares in Chrysler from a union trust, Marchionne said.

Marchionne said he is considering a merger of the two companies, though he has no timing in mind. A merger is not a priority now, he said.

© Copyright 2024 Bloomberg News. All rights reserved.


Economy
Fiat SpA may boost its stake in Chrysler Group LLC to more than 51 percent before an initial public offering of the U.S. automaker, Sergio Marchionne, chief executive officer of both companies, told reporters in Turin, Italy today.Fiat has the right to buy additional shares...
Fiat,Chrysler,Stake,IPO
94
2011-35-25
Wednesday, 25 May 2011 10:35 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved