Bank Of Baku

Fiat to own 100% of Chrysler

Fiat to own 100% of Chrysler
# 06 January 2014 09:29 (UTC +04:00)

Baku. Agshin Rafigoglu – APA-Economics. Fiat began the new year with a pretty big announcement: It will soon have full ownership of Chrysler, APA reports quoting MICHIGAN Radio.

 

The Italian automaker owns 59% of Chrysler, and will buy the 41% stake owned by the VEBA a trust set up to pay for union retiree health care by January 20.

 

The company will pay $3.65 billion. The company will also pay the VEBA an additional $700 million, split into four equal payments, made over the next four years.

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