Fiat Drives Up Stake In Chrysler

Law360, New York (January 5, 2012, 3:16 PM EST) -- Fiat SpA has increased its ownership interest in Chrysler Group LLC by 5 percent, up to 58.5 percent, after Chrysler introduced a new fuel-efficient car to achieve the last of a series of performance-related milestones, the formerly bankrupt carmaker said Thursday.

The stake increase was contingent on a letter Chrysler sent to the U.S. Department of the Treasury saying it had committed to begin assembling a vehicle with an unadjusted combined fuel economy of at least 40 mpg in commercial quantities in a U.S. production facility....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.