Fiat has the option to increase its shareholdings by another 3.3% in Chrysler through the purchase of shard held by US healthcare trust VEBA. This was confirmed by Fiat's chairman John Elkann.
Elkann said, during a break in a conference, "We'll see on Monday, we have done it (exercising options) in the past and will continue doing what we have done."
Back in 2009, Fiat purchased a nearly worthless Chrysler and since then has made the company profitable again. The Italian automaker owns 58.5% of the US company with a right to purchase another 16.6% from VEBA through a series of options with a maximum volume of 3.3% per purchase.
Fiat had already exercised two of the monthly options but ownership over such shares have not been taken because of a pending legal dispute as to the valuation of those shares. The price of the shares utilized a formula done in 2009 but now that valuation process is under court review in Delaware.
Fiat says that the Chrysler shares held by VEBA is worth about US$2 billion while VEBA says it is worth twice that valuation.
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