Fiat has increased its stake in U.S. automaker, Chrysler, to 30% from 25%, Financial Times reports. With the latest increase, a United Automobile Workers fund will own 59.2% of Chrysler, the U.S. government will hold 8.6% share and Canada will own a 2.2% stake. Fiat is also in discussions with a group of banks to refinance $7 billion of government loans. Fiat’s CEO, Sergio Marchionne, who also runs the Michigan-based Chrysler, is preparing for an initial public offering of the company, adds Bloomberg.
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