Fiat eyes Chrysler stake

Italian car maker Fiat could own more than 70% of Chrysler within a year once it repays its government loans and exercises other options, Chrysler says in a filing with the US Securities and Exchange Commission.

Italian car maker Fiat could own more than 70% of Chrysler within a year once it repays its government loans and exercises other options, Chrysler says in a filing with the US Securities and Exchange Commission.

Fiat may acquire the US Treasury's 8.6% stake in Chrysler, which would potentially let the government exit the investment quicker than if it waited for Chrysler to hold an initial public offering.

While the terms are not new, it was the first time Chrysler had spelled them out since the US government gave Fiat a 20% stake and management control of Chrysler in 2009, after the US car maker emerged from bankruptcy protection.

The US government also gave Chrysler $10.5bn (€7.3bn) in government loans.

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