Photo: Chrysler Group LLC
Fiat is slowly buying more and more of the Chrysler group’s shares, and will, eventually end up owning the whole company, if things progress in the same fashion. The merger has already been predicted by the CEO of the group, Sergio Marchionne, who said it is a distinct possibility if Chrysler adopts the initial public offering approach.
Marchionne said the exact words “we will eventually have a merged car company,” so the plan is clear. The first steps have already been taken, as Chrysler is already being put under pressure to do so, and register its shares with the US regulators.
The ones who are pushing are part of VEBA, which is a voluntary employee beneficiary association, which currently holds a 41.5% stake in the company. Fiat owns the other 58.5% of Chrysler, and they have already asked for 3.32% more (last July), yet they were not able to reach an agreement with VEBA, which ultimately led them to sue the association.
That matter is still under discussion, but Marchionne probably knows a lot more, and he seems convinced that the two companies will become one - they will most likely reach that goal, but not in the short term, we say.
The ones who are pushing are part of VEBA, which is a voluntary employee beneficiary association, which currently holds a 41.5% stake in the company. Fiat owns the other 58.5% of Chrysler, and they have already asked for 3.32% more (last July), yet they were not able to reach an agreement with VEBA, which ultimately led them to sue the association.
That matter is still under discussion, but Marchionne probably knows a lot more, and he seems convinced that the two companies will become one - they will most likely reach that goal, but not in the short term, we say.
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