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Fiat buys up Chrysler

Time 8 years ago

a1865779-31ba-45d6-b00e-87a7a3fe1d1aFIAT has announced it has agreed to buy up the remaining 41 per cent share of Chrysler.

The $4.35bn (£2.6bn) deal sees the Italian motor giant take full control of the American brand, making Fiat and Chrysler the seventh-largest car group in the world.

Fiat has had a majority share in Chrysler since 2009, and this latest deal marks an end to long negotiations between the Italian car firm and stakeholder Veba Trust – a healthcare trust which looks after medical benefits for 117,000 retired Chrysler employees.

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Chrysler and Fiat will pay the trust an initial $3.65bn (£2.2bn) and a further $700m to Veba once the deal has been completed.

The news sent Fiat shares soaring 15 per cent – the biggest gain in more than three years.

James Batchelor's avatar

James – or Batch as he’s known – started at Car Dealer in 2010, first as the work experience boy, eventually becoming editor in 2013. He worked for Auto Express as editor-at-large and was the face of Carbuyer’s YouTube reviews. In 2020, he went freelance and now writes for a number of national titles and contributes regularly to Car Dealer. In October 2021 he became Car Dealer's associate editor.

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