Fiat SpA chief executive officer Sergio Marchionne said in a statement that the Italian company had conducted meeting with banks about financing for their plan to acquire the remaining stake in Chrysler that they do not yet own.
During a press conference at the Geneva car exhibition, Marchionne was quoted saying that they are getting help from banks that are willing to asset them in their planned buyout of the Chrysler shares.
Founded in 1899 by a group of investors, Fiat has acquired several companies including Lancia, Ferrari, and Alfa Romeo. It is also a manufacturer of railway engines and carriages as well as farm tractors and military vehicles.
Fiat is a current shareholder in Chrysler with 58.5%.
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