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Fiat plans additional Chrysler stock purchase

A U.S. flag flutters in the wind behind a Fiat logo at a car dealership in Alexandria
A U.S. flag flutters in the wind behind a Fiat logo at a car dealership in Alexandria

AUBURN HILLS (WKZO) -- Fiat is buying a small additional amount of Chrysler stock as soon as a price dispute is settled by a judge.  The Italian automaker is offering nearly 255-million dollars for an additional 3.3-percent stake in Chrysler.

Once the sale goes through Fiat will own 68.49-percent of Chrysler.  Under an agreement structured in 2009,  Fiat has the option of purchasing 3.3-percent of Chrysler's stock every six-months.

The long-term goal is to fully merge the two companies.

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