Fiat SpA announced it has exercised its option to buy a third tranche of 3.3% of Chrysler Group from the United Auto Workers retiree healthcare trust, a voluntary employee beneficiary association (VEBA). Once the transactions are completed, Fiat will own 68.49% of Chrysler.
Fiat has the option to purchase a total of 16.6% of the company in 3.3% installments that open every six months. It exercised the first option on July 3, 2102; the second on January 3, 2013.
The price to be paid for the shares is awaiting the decision of a Delaware chancery judge, who has been asked to mediate in a dispute between Fiat and the VEBA over the value of the shares.
From Allpar
Fiat has the option to purchase a total of 16.6% of the company in 3.3% installments that open every six months. It exercised the first option on July 3, 2102; the second on January 3, 2013.
The price to be paid for the shares is awaiting the decision of a Delaware chancery judge, who has been asked to mediate in a dispute between Fiat and the VEBA over the value of the shares.
From Allpar
