Chrysler Says Fiat Option Would Boost Ownership Stake to 61.86%

Chrysler Group LLC said majority owner Fiat SpA (F) can boost its stake to 61.86 percent by exercising an option to acquire part of the holdings of a union retiree fund.

The United Auto Workers union’s retiree health-care trust, known as VEBA, would own the remaining 38.14 percent, the Auburn Hills, Michigan-based automaker said today in a regulatory filing. Fiat had said in a July 3 statement that exercising the option would boost its ownership to 61.8 percent. The price hasn’t been disclosed.

To contact the reporter on this story: Craig Trudell in Southfield, Michigan, at ctrudell1@bloomberg.net

To contact the editor responsible for this story: Jamie Butters at jbutters@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.