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