Sergio Marchionne, which we all know is the President of the Fiat Group, said recently in an interview that he wants to buy the remaining 41.5% of Chrysler directly from Voluntary Employee Beneficiary Association (VEBA), which is an United Auto Workers pension fund.
But the two parts don't agree on the value of those shares, with VEBA accusing Marchionne of underestimating the value of Chrysler. "VEBA and Fiat have a different opinion on how much Chrysler is worth but I believe we will be able to find a solution to the problem in 2014," said Sergio Marchionne.
Furthermore he also said that Alfa Romeo is not for sale. This is relevant since there have been rumors that the Volkswagen Group wanted to buy the Italian brand. He even added that "Alfa is one of the premium companies that we want to focus on developing over the coming years", "We're certainly not going to sell the firm, especially not to Volkswagen" and "I have to admit, I find it hard to say the name Volkswagen. I have to practice all morning beforehand."
Harsh words.
Source: leftlanenews