FIAT Looking To Buy American Stake In Chrysler – Eyeing Canada Too
Looks like FIAT wants to own a little more of Chrysler. As of Friday 05/27/11 Chrysler notified the U.S. Treasury that it would like to purchase its stake in Chrysler. If all goes well FIAT could have a majority share of Chrysler by the end of next month. As for the 1.7% Canadian stake in Chrysler, FIAT may have to wait a little longer. FIAT has displayed interest in the shares, but (and we may be wrong here) Canada may have to approach them with an offer first as a rule. That may not be it at all, but it does have something to do with red-tape. By this time next month FIAT may have a 52% stake in Chrysler.