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Fiat SpA today announced it has exercised its option to buy a third tranche of 3.3% of Chrysler Group from the United Auto Workers retiree healthcare trust, a voluntary employee beneficiary association (VEBA). Once the transactions are completed, Fiat will own 68.49% of Chrysler. Fiat has the option to purchase a total of 16.6% of the company in 3.3% installments that open every six months. It exercised the first option on July 3, 2102; the second on January 3, 2013. The price to be paid for the shares is awaiting the decision of a Delaware chancery judge, who has been asked to mediate in a dispute between Fiat and the VEBA over the value of the shares.

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So, if the price has not been set, do they really own the additional 3.3%?
 

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Erik Latranyi said:
So, if the price has not been set, do they really own the additional 3.3%?
No, they own 9.9% less than projected, this judge is paralyzingly the process, he is a joke and should recuse himself.
Be the ruling for VEBA, Fiat, or split down the middle, the lack of a decision is harming both sides.

To be fair, the Allpar report does qualify the payment. ;)
 
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