Fiat is about to go up to 61,8% of Chrysler. This is what we learn from a note from Lingotto, which communicates to Plague that he wishes to exercise his purchase option on a part of the investment held by the fund in the capital of the American group. This exercise, the note explains, concerns the first tranche of Chrysler's capital covered by the option and refers to approximately 3,3% stake in the Detroit house.
Fiat will pay a price determined according to the agreements between the parties on the basis of a market multiple (not exceeding Fiat's multiple) applied to Chrysler's EBITDA for the last four quarters, less net industrial debt. After the purchase, which will be concluded in the coming weeks, Fiat will have 61,8% of Chrysler's capital in its pocket.
The Voluntary employee beneficiary association (Veba) is a trust administered by the Uaw trade union and set up for healthcare services in favor of former Chrysler employees.
This morning, Fiat shares opened up 0,8% in Piazza Affari.
