Jan. 2, 2014, 2:40 AM
- 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)