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Fiat exercises option to buy additional 3.3% of Chrysler shares

Purchase brings closer a merger of the two automakers

img-5Fiat today exercised an option to raise its stake in Chrysler by 3.3 percent.

The move is part of CEO Sergio Marchionne’s step-by-step purchases intended to lead to full control of Chrysler and the creation of a merged company that would be able to compete better with industry leaders Toyota, General Motors and Volkswagen.

Fiat has been exercising options since mid-2012 to buy holdings of about 3.3 percent from the VEBA, a medical-benefits trust for the U.S. carmaker’s retirees.

Including today’s purchase, Fiat has exercised three of its six-monthly options, increasing its stake to 68.49 percent.

Fiat has said it wants full control of Chrysler, which would give it access to some of Chrysler’s cash flow for investments in new models.

Chrysler has become Fiat’s most reliable profit generator as the Italian company struggles to end losses in Europe [...]

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OUR MISSION IS SIMPLE img-display Customers are our main priority. We pride ourselves in finding a car that is right for you, whatever your budget and tastes. We have over 40 Years of experience within the motor industry, which means we really know about cars. To ensure our used cars run to their full potential we assess everyone before it goes out on sale. Not only that but we fully valet every car inside and out, including the engine bay. All of our cars come with a 3 month warranty, for your peace of mind (Ts & Cs apply). WHY CHOOSE US? FREE MOTs For Life3 Month WarrantyAll Cars Fully ValetedCompetitive Prices TESTIMONIALS I bought a Fiat Punto 2005 from Central and from the moment I was looking at their selection they were excellent. Car runs like a dream would definitely recommend.Bought a 02 Ford KA as a run about, starts first time everytime. Ideal car at a great price. LATEST VEHICLES

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