31st May 2011

Fiat Tells Feds It Wants to Buy Out Chrysler Stake

posted in Car News Articles |

It’s been a very busy week for Fiat and Chrysler. For Fiat, it paid $1.3 billion for a 16% stake in Chrysler, which on Tuesday paid back the remaining $7.5 billion it owed the U.S. and Canadian governments. Today, Fiat told the U.S. Treasury it wants an option to buy the remaining 6 percent stake that the U.S. government holds in Chrysler. That purchase, should it happen, would bump Fiat to 52% ownership in Chrysler LLC and end the U.S. government’s ownership of Chrysler.

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