Fiat to attain a 51% majority in Chrysler - Dodge Nitro Forum
Chrysler/Dodge/Jeep News Find out the latest scoop here!

 
LinkBack Thread Tools Display Modes
post #1 of 2 (permalink) Old 04-24-2011, 05:43 PM Thread Starter
Super Moderator
 
rickaren's Avatar
 
Join Date: Nov 2006
Location: Indiana
Posts: 22,847
Garage
Exclamation Fiat to attain a 51% majority in Chrysler

Fiat to pay $1.27 billion for 51% stake in Chrysler Group
Posted: Apr 24, 2011







Fiat will pay $1.27 billion to attain a 51% majority in Chrysler Group LLC. This means that Fiat and Chrysler CEO Sergio Marchionne will have completed his conquest two years faster than was originally planned. The Italian automaker said today that it will increase its stake to 46% sometime in the second quarter, after completing a refinancing deal to effectuate the repayment of government loans made to Chrysler. The other 5% needed to reach 51% will come from the US government after Chrysler meets certain targets that were a part of the original bankruptcy deal.

That deal called for Fiat to buy the final 16% stake in 2013.

The total amount still owed by Chrysler to the US and Canadian governments is $7.53 billion, according to a February filing with the US SEC. That sum must be paid in total before Fiat assumes a majority stake in Chrysler.

Marchionne is expecting big things for Chrysler in 2011, anticipating a net income as high as $500 million.

“Fiat should save more than $400 million by exercising the call option in the second quarter instead of in the following quarters,” Gabriele Gambarova, a Banca Akros analyst in Milan, said in a note to investors. “As long as Chrysler’s results improve, the call option exercise would have become more expensive.”



Rick

Nitro Year: 2007 (1 of 91,815 sold in 07)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
rickaren is offline  
Sponsored Links
Advertisement
 
post #2 of 2 (permalink) Old 04-25-2011, 06:35 PM
Senior Member
 
dhh3's Avatar
 
Join Date: Apr 2011
Location: Fort Wayne, Indiana
Posts: 719
This is good news. Mopar has a future!




2011 Nitro Heat 4x4: Bright Silver Metallic, Dark Slate Gray; Customer Preferred Package 24C; Trailer Tow Group; Hood-to-Fender Stripes; Navus 2; Uconnect.
MODS: Sunroof; S/S Nerf Bars; Mopar CAI, Pedal Kit, Chrome Rear License Plate Brow, Chrome Exterior Package, Production Style Cross Bars, Deluxe Molded Splash Guards, Cargo Security Cover, Door Sills & 3.7L Emblem; Media Center 430; Kicker Speakers, Sub and Amps; Carbon Fiber Dash Kits; Heated Katzkin Leather.
dhh3 is offline  
Sponsored Links
Advertisement
 
Reply

  Dodge Nitro Forum > Dodge Nitro News & Polls > Chrysler/Dodge/Jeep News

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Dodge Nitro Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Similar Threads
Thread Thread Starter Forum Replies Last Post
Fiat to up stake in Chrysler to 30% rickaren Chrysler/Dodge/Jeep News 2 04-12-2011 07:00 AM
“Chrysler & Fiat: We Need Each Other” rickaren Chrysler/Dodge/Jeep News 0 01-12-2011 12:13 PM
Chrysler Mopar 200 & Fiat 500 rickaren Chrysler/Dodge/Jeep News 0 01-07-2011 04:37 PM
US takes majority control of GMAC! rickaren Off-Topic Discussion 0 12-30-2009 09:53 PM
What Fiat Could Do for Chrysler rickaren Chrysler/Dodge/Jeep News 0 06-18-2009 07:30 PM

Posting Rules  
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome