Fiat buys another 16 percent stake in Chrysler, ups total to 46 percent
The last five percent of the puzzle hinges largely on the effective launch of a new 40-mpg vehicle slated to be unveiled later this year. Chrysler is also said to be on track to complete its debt refinancing by the end of the second quarter, which puts the American manufacturer closer to going public than it has been since bankruptcy.
Previously, the latest swell in Fiat ownership had come after the automaker met a number of goals, including ensuring that at least 90 percent of its South American dealerships sold a Chrysler product.
[Sources: The Detroit News, Automotive News – sub. req.]
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