January 17, 2013 / 11:50 AM / in 5 years

Fiat CEO sees US court decision on VEBA stake price in Q1

MILAN, Jan 17 (Reuters) - The chief executive of Fiat said on Thursday it expected a U.S. court to rule in the first quarter of 2013 on the price it has to pay to buy a 3.3 percent stake in Chrysler held by a union-related trust.

Under a bailout agreement Fiat, which owns 58.5 percent of Chrysler, is able to exercise call options to purchase portions of the 41.5 percent stake held by the VEBA healthcare trust.

However, the two have been locked in a court battle about the price Fiat would have to pay.

“We expect the court decision on the VEBA options in the first quarter,” Fiat and Chrysler CEO Sergio Marchionne told reporters on the sidleines of a conference in Milan.

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