The Italian auto maker is purchasing a 3.3% stake from the UAW.
says it will hike its controlling stake in to 61.8%, purchasing an additional 3.3% held by the Voluntary Employee Benefit Admin., a trust established by the United Auto Workers union.
is not disclosing costs to purchase the VEBA’s stake.
The Italian auto maker has been a controlling partner in’s operations since 2009. It expects the transaction to be completed in the coming weeks.