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.
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