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Fiat Buying Rest Of Chrysler

 
Fiat Buying Rest Of Chrysler

(Undated) -- Fiat is gobbling up the rest of Chrysler. The Italian automaker has reached an agreement to buy the 41-percent stake in Chrysler that it didn't already own.

Fiat is buying the stake from a retiree healthcare trust affiliated with the United Auto Workers union. The trust will get over three and a-half billion dollars in cash. And once the deal closes, it will get an additional $700-million from Chrysler.

The deal, which ends months of negotiations, is expected to close later this month.

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