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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 [...]

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The Chevrolet Tahoe (and its rebadged version GMC Yukon) is a full-size SUV from General Motors.

The Insurance Institute for Highway Safety has praised the Tahoe as one of the best of its class. The Chev [...]

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Since 1989, Birmingham Auto Sales has become a trusted name in used automotive sales with over 10,000 cars sold. We carry a large inventory with over 100 Vehicles. Birmingham Auto Sales is one of the more elite Buy Here Pay Here car Dealerships in the Southeast. We offer a wide variety of vehicles including high end Car’s, Truck’s, and SUV’s with a reasonable down payment and monthly payments.

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