The Fiat Group today purchased the remaining Chrysler LLC shares held by the U.S. and Canadian governments. The Italian company acquired a 1.5% fully diluted stake in Chrysler Group LLC from Canada for US$125 million, and a 6% stake from the United States Department of the Treasury for a price of US$ 500 million.
After acquiring the shares in the two separate deals, the Fiat Group now controls a 53.5% fully diluted equity interest in Chrysler LLC.
Upon the completion of the deal, U.S. Assistant Secretary for Financial Stability Tim Massad released this statement:
“With today's closing, the US government has exited its investment in Chrysler at least six years earlier than expected. This is a major accomplishment and further evidence of the success of the Administration’s actions to assist the US auto industry, which helped save a million jobs during the worst economic crisis since the Great Depression.”
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