Deals
Fiat Buys Rest of U.S.’s Chrysler Stake, Right to UAW Shares
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Fiat SpA will pay $500 million for the U.S. government’s remaining 6 percent stake in Chrysler Group LLC, ending the Treasury’s involvement in the automaker as Fiat moves to consolidate control.
The U.S. Treasury said it will receive an additional $60 million as part of a deal for Fiat to acquire the government’s rights to buy a union trust fund’s stake in Chrysler. The Canadian government will get $15 million from that part of the transaction, the Treasury said yesterday in a statement.