Fiat increases stake in Chrysler to 30%

Chrysler Group CEO Sergio Marchionne
Chrysler Group CEO Sergio Marchionne

It was reported earlier this month that Fiat is looking to increase its stake in Chrysler within a few weeks. Well, a ‘few weeks’ have apparently come and gone within one week because Fiat announced today that it has increased its stake in Chrysler from 25 percent to 30 percent.

The move comes as result of Chrysler’s achievement of the second of three performance-related milestones outlined in a recent amendment to its June 10, 2009, Operating Agreement.

The second milestone required Chrysler to achieve cumulative revenues of more than $1.5 billion for sales made outside Canada, Mexico and the United States after June 10, 2009.

The ownership interests of Chrysler Group’s members are now:

59.2 percent
30.0 percent
U.S. Treasury
8.6 percent
Canadian Governments
2.2 percent

– By: Omar Rana