Chrysler officially became a subsidiary of Fiat Group
by AllAutoExperts | 17 December, 2013
Fiat Group finalized the procurement procedures of Chrysler Corporation, which owns brands Dodge, Jeep, Ram and Chrysler. Five years ago, Fiat and Chrysler signed an alliance to increase sales globally.
Today, Fiat acquired the remaining 41.4616% of shares against payment of US 2.65 billion. These shares were purchased at the UAW, the largest union of American auto industry. Besides this, Chrysler undertakes to pay Americans to VEBA, wing UAW covering health insurance costs of retired American union, 700 million dollars in four yearly installments.
Sergio Marchionne, the man behind this deal, stated: "The fabric will allow implementing the vision of creating a global manufacturer unique in terms of mix of experience, insights and know-how, an organization strong and open it will ensure its employees a challenging environment and will bring satisfaction. »
Possession of 100% stake in Chrysler gives to Fiat the opportunity to benefit from direct access to liquidity American Group, which will facilitate joint investments in future platforms, models and technologies.
