Fiat Says It Now Has Enough Cash To Buy Chrysler

Fiat SpA, the Italian carmaker that controls Chrysler Group LLC, said it has enough resources already to buy the remaining stake in the unit from an employee group, and won't sell new shares to finance a transaction.

Fiat would consider disposing of some assets to control debt in the event the carmaker acquires full control of Chrysler from the United Auto Workers retiree health-care fund, or VEBA, Chief Executive Officer Sergio Marchionne said at the annual shareholders' meeting in the manufacturer's hometown of Turin.

"If we ever reach a deal with VEBA to buy the remaining stake, we have enough cash for it," Marchionne said Tuesday. Fiat may "monetize assets" to maintain its financing, he said, without specifying what the company may sell.

lexworld - 4/9/2013 4:03:23 PM

0 Boost

...With Fiat's past and present track record of quality control, you can kiss Chrysler crap bye bye for sure. My plea to the Chrysler Corp would be to work out it's own issues, financially and other wise and do it "like" yesterday!

mpls - 4/10/2013 2:59:45 PM

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How did Fiat get all that cash .. government bail out ?

tecnopolis - 4/11/2013 11:11:25 AM

+1 Boost

FIAT got all it's original cash when they sued GM to claim the 1 billion GM said it would pay them if their attempted merger didn't go through. With that mega payout FIAT was able to invest in "R and D". Earning them some serious bank. Remember, FIAT was required to provide Chrysler with a domestically built compact capable of getting 40 MPG. Hence, the new DART.