Official: Fiat completed the acquisition of shares in Chrysler Group

Article by Christian Andrei, on January 21, 2014

Fiat officially announced that it completed the acquisition of shares in Chrysler Group! This comes after the Italian company announced on January 1 that it struck a $4.35 billion deal to gain full control of Chrysler. For those who don’t know, Fiat bought the remaining 41.46 percent stake in Chrysler from a retiree healthcare trust affiliated with the UAW.

The trust is known as a voluntary employee beneficiary association of VEBA and has received $3.65 billion in cash for the stake. According to the press release, $1.9 billion cam from Chrysler and $1.75 billion from Fiat. Moreover, Chrysler will give UAW trust another $700 million in four equal annual installments.

“Chrysler Group made the initial payment today contemporaneously with the closing of a transaction between a wholly-owned subsidiary of Fiat and the VEBA Trust in which Chrysler Group became a wholly owned subsidiary of Fiat. Additionally, Chrysler Group paid a special distribution to its members in an aggregate amount of $1,900 million.” said the press release.

Topics: fiat, chrysler, shares

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Back in 2009, Nissan first introduced the Nissan Leaf, the company’s first all-electric vehicle. LEAF stands for Leading Environmentally-friendly Affordable Family car and this particular EV has been considered as...
by - December 3, 2016
In the minivan segment, the 2017 Chrysler Pacifica is already impressive in terms of fuel economy figures – as rated by the United States Environmental Protection Agency. In fact, the...
by - December 2, 2016
Having a blacked-out Bentley Mulsanne Speed is already menacing by itself but by naming it as the Bamford X, it became all the more imposing. This model was made by...
by - December 2, 2016
We have good news for those who are waiting for the latest version of the Mazda CX-5 compact crossover. It was just unveiled in November at the 2016 Los Angeles...
by - December 2, 2016
Those familiar with racing know that Marco Wittmann’s win during the 2016 Deutsche Tourenwagen Masters held last May was noteworthy as it was his second title in four seasons. In...
by - December 2, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries