Author Archive: Callam

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img-5Fiat today exercised an option to raise its stake in Chrysler by 3.3 percent.

The move is part of CEO Sergio Marchionne’s step-by-step purchases intended to lead to full control of Chrysler and the creation of a merged company that would be able to compete better with industry leaders Toyota, General Motors and Volkswagen.

Fiat has been exercising options since mid-2012 to buy holdings of about 3.3 percent from the VEBA, a medical-benefits trust for the U.S. carmaker’s retirees.

Including today’s purchase, Fiat has exercised three of its six-monthly options, increasing its stake to 68.49 percent.

Fiat has said it wants full control of Chrysler, which would give it access to some of Chrysler’s cash flow for investments in new models.

Chrysler has become Fiat’s most reliable profit generator as the Italian company struggles to end losses in Europe that totaled 704 million euros ($903 million) in 2012 [...]

WELCOME TO SOVEREIGN TRADING Sovereign Trading is a family run business specialising in prestige and performance cars for more than 20 years. Over the years, we have worked hard to build up great customer relations which have given us an excellent reputation within the car industry throughout East Sussex and beyond. We dedicate ourselves to providing a relaxed and professional service as we understand the search for your dream car should always be an enjoyable experience. As such, every member of the Sovereign Trading team use their wealth of motor industry experience to ensure purchasing your next car is a seamless journey. SEARCH OUR CARS We specialise in high quality, top performance cars covering high end models such as Land Rover, Bentley, BMW & Audi.Alongside only stocking well looked after and serviced cars, we ensure all vehicles are expert checked by our team so we can guarantee each car is in perfect order.We've helped customers from all over the country find their perfect car for over 10 years. We pride ourselves on a first class service to ensure every customer walks away happy.We won't be beaten o [...]

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