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Marchionne increases his FCA holdings

by Bill Cawthon on

Italian financial newspaper Il Sole 24 Ore says that Fiat Chrysler Automobiles CEO Sergio Marchionne welcomed FCA’s new stock listing by purchasing 335,000 shares. The stock came from that returned by investors exercising their cash exit option.

Marchionne paid $3.32 million for the stake at about $9.90 per share, the same price Fiat S.p.A. paid for the returned shares.

The additional shares bring Marchionne’s holdings in FCA and CNH to 6.8 million shares; about 0.5% of the total shares issued.

Marchionne’s lead was not followed by Exor, the Agnelli family holding company that owns 30% of FCA. With 46% of the voting rights, Exor is staying on the sidelines.

In February 2015, Marchionne will receive an additional 2,333,000 shares of FCA and 366,000 shares of CNH Industrial. Some will no doubt be sold to pay taxes but Marchionne’s pre-tax stake would be close to 9 million shares.

Bill Cawthon grew up in the auto industry in the 1950s. His Dad worked for Chrysler and Bill spent a number of Saturdays down on the plant floor at Dodge Main in Hamtramck. Bill is also the U.S. market correspondent for, a British auto industry publication, and a member of the Texas Auto Writers Association, which has named the Jeep Grand Cherokee the “SUV of Texas” several times and named the Ram 1500 as the “Truck of Texas” two years running.

Bill has owned five Plymouths (including the only 1962 “Texan”), one Dodge and one Chrysler and is still trying to figure out how to justify a Wrangler. He also has owned at least one of every 1:87 scale model of a Chrysler product. You can reach him directly at (206) 888-7324 or by using the form.

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