Fiat Completes Purchase of Chrysler
Bought last stake from employees' retirement trust
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.