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Fiat increases its interest in Chrysler

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Related stories:
Chrysler repays government loans   (29th May, 2011)
Who owns Chrysler?   (13th April, 2011)


29th May, 2011

  • Following closing of the refinancing of Chryslerís debt and repayment by Chrysler of its debt to the U.S. and Canadian governments, Fiat increases its interest in Chrysler

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Concurrently with the closing of the refinancing of Chryslerís debt and the full repayment by Chrysler of its debt to the U.S. and Canadian governments last week, Fiat has consummated the exercise of its option to purchase an incremental 16% interest in Chrysler, pursuant to the terms of the arrangements announced on 21st April, 2011.

In exchange for a cash consideration of US$ 1,268 million, Chrysler has issued to Fiat 261,225 new class A membership interests in Chrysler, increasing Fiatís aggregate ownership interest by 16% (on a fully-diluted basis).

Following the occurrence of the final so-called Performance Event which is expected later this year Fiat will hold 51% of the outstanding equity in Chrysler.


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