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| Fiat plans to buy majority stake in Chrysler Posted: Sunday, May 29, 2011 Fiat announced on Friday that it intends to purchase the six percent of automaker Chrysler that the US government currently owns, which would give the Italian company a 52 percent majority stake in Chrysler. According to Fiat's announcement, the company has told the US Treasury that it intends to use its option to buy the share in Chrysler held by the US government, a deal that will be finalized by June 10. If a price is not agreed on by that time, Fiat will pay the average of the estimates of two investment banks. More... |
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