Fiat Steps Closer to Control of Chrysler

Fiat acquired another 3.3 perfent of Chrysler today, bringing them closer to full control of Chrysler. Fiat now controls 68.49 percent of Chrysler and will be able to bring their stake up to 75% over the next 12 months. Fiat is in the process of acquiring these shares from VEBA, a medical-benefits trust for the U.S. carmaker’s retirees. But the two have still not sorted out the value of these shares, and are in court right now to figure that out. Fiat values Chrysler at $4.2 billion, whereas VEBA values Chrysler at $10.3 billion. More at Automotive News