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22.01.2014

Chrysler becomes a wholly-owned subsidiary of Fiat

Fiat & Chrysler Logos Fiat & Chrysler Logos. Photo source www.mainpump.com

Fiat has finally completed the acquisition of Chrysler Group buying the remaining 41.46 percent Chrysler stake from the United Auto Workers’ VEBA Trust. After five year alliance Chrysler has become a wholly-owned subsidiary of Fiat. In general, the entire deal will cost Fiat and Chrysler 4.35 billion dollars. For Fiat it is the beginning of transformation into one of the global carmakers, able to compete with Volkswagen, General Motors and Toyota.

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Fiat and Chrysler CEO Sergio Marchionne said that in the life of each company and its people there are moments, which go down in the history books, this agreement is such a moment for Fiat and Chrysler. The unified ownership structure will allow Chrysler and Fiat to realize their vision of creating a global automaker, which is based on a combination of experience, know-how, perspective and reliable open organization.

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