Does not seem to stop the escalation of Chrysler Fiat shares. After the Lingotto has come in stages to hold 30% of the House of Michigan, the chief executive Sergio Marchionne is looking beyond 51%, aiming at an altitude of 70 thanks to a "call option" in the Turin-based company has. In practice this is an option that entitles the buyer to purchase additional shares at a fixed price.
The news was announced by the Stock Exchange on Wall Street adding that Fiat will buy 16% stake for 1.27 billion dollars that Chrysler will once settled its debt with the governments of the United States and Canada which add another 5% once it is approved for the market to the stars and stripes in a car capable of traveling 40 miles per gallon of gasoline amounted to just over 17 km per liter.
With the call option, Sergio Marchionne would have a year to acquire the shares currently in the hands of Washington (8, 6%) and a further 8% held by the trust Veba, a U.S. pension fund. In the latter case, it could be done during the period from 1 July 2012 and December 31, 2016. Once they become major Fiat will be able to appoint a majority of the board and set the timing of certain events, including the IPO.
According to a document filed yesterday in the New York Stock Exchange, the company is "pursuing the project to reintroduce the Alfa Romeo in the U.S. and Canada in 2012." But not all: The two companies are "developing with a new platform based on the current C-Evo (inaugurated on Juliet) with which they will produce new models in 2012 to be used for future models of C and D segments (excluding Jeep Wrangler), in order to reduce the number of platforms from 11 to 7 at the end of 2014, three of which are shared with Fiat.
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The news was announced by the Stock Exchange on Wall Street adding that Fiat will buy 16% stake for 1.27 billion dollars that Chrysler will once settled its debt with the governments of the United States and Canada which add another 5% once it is approved for the market to the stars and stripes in a car capable of traveling 40 miles per gallon of gasoline amounted to just over 17 km per liter.
With the call option, Sergio Marchionne would have a year to acquire the shares currently in the hands of Washington (8, 6%) and a further 8% held by the trust Veba, a U.S. pension fund. In the latter case, it could be done during the period from 1 July 2012 and December 31, 2016. Once they become major Fiat will be able to appoint a majority of the board and set the timing of certain events, including the IPO.
According to a document filed yesterday in the New York Stock Exchange, the company is "pursuing the project to reintroduce the Alfa Romeo in the U.S. and Canada in 2012." But not all: The two companies are "developing with a new platform based on the current C-Evo (inaugurated on Juliet) with which they will produce new models in 2012 to be used for future models of C and D segments (excluding Jeep Wrangler), in order to reduce the number of platforms from 11 to 7 at the end of 2014, three of which are shared with Fiat.
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