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Fiat CEO says talks with VEBA to buy out Chrysler stake continue
July 8, 2013 / 9:02 AM / in 4 years

Fiat CEO says talks with VEBA to buy out Chrysler stake continue

TURIN, July 8 (Reuters) - Italian carmaker Fiat Chief Executive Sergio Marchionne said on Monday that talks continue to buy the 41.5 percent stake of Chrysler that Fiat does not already own.

“The talks have not produced any results so far, so we don’t have anything to announce,” he told journalists asking for an update on the sidelines of a conference.

Asked for a comment on the possible timing of an agreement with the U.S. healthcare fund VEBA that owns the 41.5 percent stake, Marchionne said, perhaps jokingly, “if they accept our price, we could close this week.”

The two sides are far apart on price, and are in litigation in a Delaware court over the issue. Fiat has valued Chrysler at $4.2 billion, way below VEBA’s $10.3 billion figure.

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