The Car and Truck Fleet and Leasing Management Magazine

Fiat Finalizes Chrysler Acquisition

January 21, 2014

Fiat North America finalized its acquisition of the Chrysler Group from the UAW's trust today, as it moves to create a global automaker to compete with General Motors and Ford, the company announced.

The deal closed Tuesday with Chrysler paying out a special distribution of $1.9 billion to the VEBA Trust and paying out $1.75 billion from Chrysler cash-on-hand. The two parties also entered into an agreement in which Chrysler will make four additional payments equaling $700 million per year. The first of those payments, of $175 million, came as part of the finalized deal, a Fiat spokesman told Automotive Fleet.

Fiat and Chrysler announced the deal on Jan. 2 with Sergio Marchionne, Fiat's CEO and Chrysler's chairman and CEO, saying it would help him "fully execute our vision of creating a global automaker."

Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

Sponsored by

The Department of Transportation was established by an act of Congress on October 15, 1966.

Read more

Up Next

More From The World's Largest Fleet Publisher