Fiat closed on $4.35 billion deal Tuesday to make Chrysler a wholly-owned subsidiary of the Italian automaker.
Reuters: Fiat bought the remaining 41.46 percent stake in Chrysler from a retiree healthcare trust affiliated with the United Auto Workers union. The trust, known as a voluntary employee beneficiary association or VEBA, has received $3.65 billion in cash for the stake, $1.9 billion of which came from Chrysler and $1.75 billion from Fiat.
The remaining $700 million will be paid out over the next four years.
Fiat initially purchased a significant stake in Chrysler during the 2008-2009 Big Three bailout/bankruptcy and have essentially managed Chrysler ever since.
