2014 Fiat 500 1957 Edition in the foreground|
and 1957 Fiat Cinquecento (500) at rear.
2014 SRT Viper show car
Who owns Chrysler?
Recent new car releases ..... here
Upcoming new car releases ..... here
28th January, 2014
- Chrysler is now fully owned by Fiat
Fiat S.p.A. (“Fiat”) through its wholly owned subsidiary, Fiat North America LLC (“FNA”) has completed its previously
announced acquisition of all of the VEBA Trust’s** membership interests in Chrysler Group LLC (“Chrysler Group”).
Chrysler Group is now a wholly-owned subsidiary of Fiat.
The consideration for the acquisition consisted of:
- a special distribution paid by Chrysler Group on 21st January, 2014 of U.S.$1,900 million (FNA directed its portion
of the special distribution to the VEBA Trust as part of the purchase consideration); and
- a cash payment by FNA to the VEBA Trust of U.S.$1,750 million.
Fiat funded the U.S.$1,750 million payment from available cash on hand. Chrysler Group funded the special distribution
from available cash on hand.
As previously announced, contemporaneously with the transactions described above, Chrysler Group and the International
Union, United Automobile, Aerospace and Agricultural Implement Workers of America (the “UAW”) entered into a memorandum
of understanding under Chrysler Group’s existing collective bargaining agreements to provide for additional contributions
by Chrysler Group to the VEBA Trust of an aggregate of U.S.$700 million in four equal annual installments, the first of
which was paid in connection with closing of the transaction with Fiat.
As part of the transactions and as promptly as practicable, FNA and the VEBA Trust will dismiss with prejudice the
proceedings before the Delaware Court of Chancery with respect to the interpretation of the call option agreement.
** The UAW Retiree Medical Benefits Trust, a Voluntary Employees’ Beneficiary Association, an independently
administered trust established to pay health care benefits for retirees from Chrysler.