Fiat has completed its acquisition of the remaining 41.46% stake it does not own in Chrysler Group from the UAW’s VEBA Trust (United Automobile Workers’ voluntary employee beneficiary association). Chrysler Group is now a wholly-owned subsidiary of Fiat.
The consideration for the acquisition comprised a special distribution paid by Chrysler Group of US$1.9 billion (Fiat North America directed its portion of the special distribution to the VEBA Trust as part of the purchase consideration) and a cash payment by FNA to the VEBA Trust of US$1.75 billion.
Chrysler has agreed to separately make a total of US$700 million in four equal annual payments to the UAW’s trust fund. The first was paid in connection with the closing of the transaction with Fiat.
Full Chrysler ownership will allow CEO Sergio Marchionne to create a global player to better challenge General Motors and Volkswagen. He earlier estimated that Fiat and Chrysler combined would be the world’s seventh-largest carmaker.
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That’s interesting.
Maybe we’ll see a crossover model from Ferrari or Maserati? :p
Looking at the rate companies being bought over…there will be only few major players very soon.
Some Fiat models going to produced from Korea? Share technology…engine?
Come to think of it…what’s happening to SAAB?
Ferrari from fiat..fiat buy chrysler..dodge from chrysler..viper from dodge. ..
before: Big 3 of Detroit, FoMoCo, General Motors and Chrysler
now: Big 2 of Detroit, FoMoCo and General Motors
just my 2 cents….
i hardly see the Chrysler presence over here…maybe due to that it’s difficult to find a footing here. besides, their models are not cheap & their niche are upmarket. but still hope they’ll make inroads here as they are part of fiat group now. maybe they need ckd their models here to make it competitive. who knows.
Sold.
Please bring the Chrysler 200 to Malaysia.
Apart of Ferrari,the rest of the brands in this group are just simply agglomeration of rubbish brands in the industry. Each time I watched the 2013 Grand Cherokee failed the epic Moose test, it must be a greatest joke in this decade! Hey, Malaysian’s shame P1 could do better than u, Mr. Fiat Chrysler !!