Fiat has big plans that seem to revolve around Chrysler Group, aiming to buy the rest of the stakes in the company. That means they are gathering funds to buyout the 41.5 percent currently owned by United Auto Workers’ retiree health-care trust.

The 10 billion USD they plan to raise will help in paying the industrial debt both brands have collected. To this end they are talking with the Bank of America, Deutsche Bank, Goldman Sachs and BNP Paribas.

Fiat Chrysler Merger
Fiat Chrysler Merger

But before any money exchanges hands, Fiat will have to settle the legal dispute with the health-care trust concerning the real value of the remaining Chrysler stakes. Once that is done, they will use some 3.5 billion USD to purchase the 41.5 percent of Chrysler.

The merger is set to take place as soon as this summer, as they are desperate to get to a level where they can compete with other world class groups like Volkswagen or General Motors. The Fiat-Chrysler group will be able to offer the mass production Fiat, Chrysler, Jeep and Dodge brands and even the more exotic Maserati and Ferrari.

With the rest of the funds Fiat plans to raise they intend to pay the debt the two brands managed to gather collectively, which in March was somewhere close to 7.1 billion EUR.