10 January 2011 - 16H54
The Chrysler logo on a car at a dealership in Glendale, California. Italian auto giant Fiat has increased its stake in Chrysler to 25% from 20% as part of a deal signed after the iconic US brand emerged from bankruptcy in 2009.
AFP - Italian auto giant Fiat has increased its stake in Chrysler to 25 percent from 20 percent as part of a deal signed after the iconic US brand emerged from bankruptcy in 2009, Fiat said on Monday.
The increase was made possible after Chrysler announced that it would begin production of new engines at its plant in Dundee in the US state of Michigan.
Chrysler is now 63.5-percent owned by the UAW union, with Fiat holding 25 percent, the US Treasury 9.2 percent and the Canadian government 2.3 percent.
Fiat already has operational control of Chrysler and its chief executive, Sergio Marchionne, also heads up the US auto company.
No comments:
Post a Comment