Fiat to Increase its Chrysler Stake in July

Sergio Marchionne 1 photo
After announcing Alfa Romeo’s joint-effort with Mazda, to design and build the new MX-5 and an Alfa-equivalent, Fiat (Alfa Romeo’s parent company) is likely to increase its stake in Chrysler from the current 58.5%, to 61.8%, within the coming month of July.
According to Sergio Marchionne, Fiat CEO, it is very likely for the Italian automaker to buy 3.32% of Chrysler’s total shares, currently owned by the UAW Retiree Medical Benefits Trust, until 40% of their interest has been acquired. Fiat is aiming big, and with a capable leader like Marchionne, who turned the company into a profitable one, marking the turnaround for the brand in 2006, the future seems bright.

Furthermore, Marchionne said that one of his primary goals is to merge Fiat and Chrysler into a single automakers, with a target of 6-million cars and trucks sold around the world, by the year 2015.

Story via Detroit Free Press
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