Fiat Wants Majority Of Chrysler By This Year

Fiat wants to own the majority of Chrysler by the end of the year, as it has announced it wants to buy the 1.7% stake that the Canadian government owns in the automaker.

Fiat CEO Sergio Marchionne stated he had conversations with Canadian Finance Minister Jim Flaherty about potentially purchasing the stake the country has in the company.

In addition to this, Fiat has had discussions it will purchase the 6% stake the U.S. government owns in the company. It will take the stake up to 57% when all is said and done.

Last week, Chrysler repaid the $6.7 billion it owed to the U.S. government, plus interest.