Deals
Fiat Completes Chrysler Takeover With Health-Trust Payment
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Fiat SpA acquired full control of its Chrysler Group LLC unit in the U.S., setting the stage for the Italian carmaker to form a manufacturer with the scale to better challenge the biggest players in the auto industry.
Fiat paid a United Auto Workers retiree health-care trust, Chrysler’s other owner, $1.75 billion in cash, while the U.S. vehicle producer provided a $1.9 billion special dividend to the labor group plus the first of four annual installments that will total $700 million, the Turin-based company said today in a statement.