Fiat, the Italian car makers say they have reached a deal to buy up another 16% stake in Chrysler for £774m ($1.27bn).Now Fiat has brought more into Chrysler, it owns more 46 percent of the third largest car maker in the US, which fuels speculation on a full buyout from Fiat this year.
When Chrysler came out of bankruptcy in 2009, Fiat agreed with the US government to share management and technology for a 20 percent stake.
Fiat went on to increase that stake to 30 percent after Chrysler met the performance targets set.
John Elkann, Fiat Chairman said “The transaction that we are announcing today represents a historic step for Fiat and Chrysler. Fiat together with Chrysler will create a stronger automobile group with a full range of prodcus present in every market around the world and able to compete with the best.”
If you are looking to buy a Fiat Market Harborough then visit your local Fiat dealer.
Fiat may be gifted another 5 perfect in Chrysler by the US government if it meets targets set, giving Fiat majority control.
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