Fiat to take full control of Chrysler in $4.35B deal


Fiat (FIATY) has agreed to pay $4.35B to acquire the 41.5% stake in Chrysler owned by the United Auto Workers Retiree Medical Benefits Trust.

The deal ends a long-running dispute over the valuation of Chrysler - which is just over $10B under the agreement - and helps pave the way for the consolidation of the companies into a single global automaker with combined sales of 6M vehicles and 2012 revenue of €84B.

The transaction also means that Chrysler's prospective IPO will probably be called off. (PR)

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Comments (4)
  • joshvegas
    , contributor
    Comments (524) | Send Message
     
    Great news, SP is flying:)
    2 Jan 2014, 03:22 AM Reply Like
  • Nick Cox
    , contributor
    Comments (1375) | Send Message
     
    This is great news for Fiat.
    They've got Chrysler for a steal,and their Fiat brand is doing well in South America and China,and Ferrari and Maserati are flourishing.
    2 Jan 2014, 03:43 AM Reply Like
  • mitrado
    , contributor
    Comments (2033) | Send Message
     
    If wages weren't frozen for 15 years, we Europeans would buy some more stuff (including cars)... As it stands, f... that! Let the Americans and Asians spend instead.
    2 Jan 2014, 07:49 AM Reply Like
  • psychological-dividends
    , contributor
    Comments (820) | Send Message
     
    The union must be satisfied.
    2 Jan 2014, 10:44 AM Reply Like
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