Fiat Hikes Chrysler Stake to 25%

Jan. 10, 2011
Chrysler is now 63.5% owned by the UAW, 25% by Fiat, 9.2% by the U.S. Treasury and 2.3% by the Canadian government.

As part of a deal signed after the iconic U.S .brand emerged from bankruptcy in 2009, Fiat has increased its stake in Chrysler to 25% from 20%, Fiat said on Jan. 10.

The increase was made possible after Chrysler announced that it would begin production of new engines at its plant in Dundee in Michigan.

Chrysler is now 63.5% owned by the UAW union, with Fiat holding 25%, the U.S. Treasury 9.2% and the Canadian government 2.3%.

Fiat already has operational control of Chrysler and its chief executive, Sergio Marchionne, also heads up the company.

Copyright Agence France-Presse, 2011

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