Automobiles

Fiat Completes Purchase of Chrysler

Bought last stake from employees' retirement trust

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It's a done deal. Fiat now owns all of Chrysler.

Italian automaker Fiat's subsidiary, Fiat North America, today completed the previously announced acquisition of the 41.46% stake in Chrysler Group that it did not already hold.

Fiat North America bought the stake from the United Auto Workers' employee medical benefit retirement trust (known as a VEBA) for $1.75 billion of its own cash, plus another $1.9 billion in Chrysler cash.

Chrysler's portion was paid as a special distribution, while the Fiat cash was direct purchase money.