The custody of Chrysler LLC may be majority held by Fiat, but a full-blown, 100 percent ownership has yet to be reached. The Italian automaker is getting closer however as it was recently announced that their stake jumped up to 61.8 percent. With the rest of Chrysler owned by a United Auto Worker’s Voluntary Employee Benefit Association (VEBA), Fiat is looking to purchase the whole enchilada by or before 2016.
According to Car and Driver Magazine, a contract created by Chrysler’s two owners allows for Fiat to purchase 3.32 percent of VEBA’s stake every six months. This agreement is scheduled to continue until 2016 but that doesn’t mean Fiat will have to wait until then. There is nothing among the contract that would disallow the Italian company to make an offer sooner and there is a solid chance one will take place perhaps as soon as next year.
Source: Car and Driver
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