Fiat will boost its stake in Chrysler Group to 61.8 percent, taking a step closer to a full merger with the U.S. carmaker. The automaker will exercise an option in the coming weeks to buy an additional 3.3 percent from the UAW's retiree health-care trust, the company said in a statement today.
Fiat, which did not provide the purchase price in the statement, will pay less than 200 million euros ($252 million) for the added holding, CEO Sergio Marchionne said in an interview last month.
Read Article