May 30, 2013 / 11:54 AM / 4 years ago

Fiat to wait for VEBA stake verdict before merging with Chrysler

TURIN, Italy, May 30 (Reuters) - Fiat Chairman John Elkann said on Thursday the Italian carmaker intends to wait for a resolution of the legal dispute with U.S. healthcare trust VEBA before going ahead with a full merger with Chrysler.

“We intend to wait for the Delaware verdict before moving forward on the merger” with Chrysler, said Elkann.

However, Elkann did not rule out an out of court settlement with VEBA ahead of the verdict, which will help determine the price of the 41.5 percent stake in Chrysler held by the trust.

“We don’t rule it out,” he said. The verdict is due 90 days from the April 25 hearing.

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