Author Archive: Autodencars

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Fiat exercises option to buy additional 3.3% of Chrysler shares

Purchase brings closer a merger of the two automakers

img-5Fiat today exercised an option to raise its stake in Chrysler by 3.3 percent.

The move is part of CEO Sergio Marchionne’s step-by-step purchases intended to lead to full control of Chrysler and the creation of a merged company that would be able to compete better with industry leaders Toyota, General Motors and Volkswagen.

Fiat has been exercising options since mid-2012 to buy holdings of about 3.3 percent from the VEBA, a medical-benefits trust for the U.S. carmaker’s retirees.

Including today’s purchase, Fiat has exercised three of its six-monthly options, increasing its stake to 68.49 percent.

Fiat has said it wants full control of Chrysler, which would give it access to some of Chrysler’s cash flow for investments in new models.

Chrysler has become Fiat’s most reliable profit generator as the Italian company struggles to end losses in Europe that totaled 704 million euros ($903 million) in [...]

WELCOME TO AUTO DEN For more than 30 years our philosophy has been: Quality Your Choice – Service Our policy - We pride ourselves in an exceptional standard of integrity and quality, upheld by long standing relationships with existing, and new clients. At Auto Den we offer a diverse range of vehicles, and do our utmost to source whatever is needed to make your motoring dreams a reality.You will experience friendly, yet professional and personal service by well informed, passionate staff. We invite you to come and visit, in person or online, and enjoy the Auto Den experience, where our passion for cars, is exceeded only by our passion for people. SEARCH OUR INVENTORY

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