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Fiat CEO rules out capital increase to buy all of Chrysler
April 9, 2013 / 11:08 AM / 5 years ago

Fiat CEO rules out capital increase to buy all of Chrysler

TURIN, April 9 (Reuters) - Fiat Chief Executive Sergio Marchionne said on Tuesday he ruled out a capital increase to buy the 41.5 percent in U.S. unit Chrysler that Fiat does not already own.

“There is no need at the moment for a capital increase for the merger with Chrysler,” Marchionne said at a shareholders’ meeting.

Fiat wants to acquire the rest of Chrysler and merge the companies in order to gain financial synergies and access to Chrysler’s cash flow by the end of 2014. The merged company may be listed in the U.S. in addition to Italy, Marchionne has said. It is not clear where it would be headquartered.

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