Fiat comes to terms with Treasury to buy Fed's $560M Chrysler stake
 

<p>Filed under: <a href="http://www.autoblog.com/category/government-legal/" rel="tag">Government/Legal</a>, <a href="http://www.autoblog.com/category/chrysler/" rel="tag">Chrysler</a>, <a href="http://www.autoblog.com/category/earnings-financials/" rel="tag">Earnings/Financials</a>, <a href="http://www.autoblog.com/category/fiat/" rel="tag">Fiat</a></p><a href="http://detnews.com/article/20110602/AUTO01/106020484/Fiat-reaches-deal-to-buy-Treasury%E2%80%99s-Chrysler-stake-for-$575M#ixzz1OBOWLIuX"><img alt="Chrylser" src="http://www.blogcdn.com/www.autoblog.com/media/2011/06/02-2011-chrysler-300-teaser-opt.jpg" style="border-style: solid; border-width: 0px; margin: 4px 0px;" /></a><br />
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<a href="http://www.autoblog.com/make/fiat/">Fiat</a> has reportedly reached a deal to pay $500 million for the rest of the federal government's share of <a href="http://www.autoblog.com/make/chrysler/">Chrysler</a>, along with another $60 million for the government's option to buy most of the remaining shares of Chrysler stock. The purchase, which President Obama should officially announce today, will settle the remainder of Auburn Hills' debt to the government.<br />
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The <a href="http://www.autoblog.com/2009/02/21/bailout-chrysler-the-game/">federal government bailed the automaker</a> out to the tune of $4 billion under the Bush administration, with the total eventually rising to $5.9 billion. Fiat's purchase will account for the last of the debt and once again put the company under foreign ownership.<br />
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With the deal, Fiat will gain a 52 percent stake in the company.<p style="padding:5px;backgr ound:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2011/06/03/fiat-comes-to-terms-with-treasury-to-buy-feds-560m-chrysler-st/">Fiat comes to terms with Treasury to buy Fed's $560M Chrysler stake</a> originally appeared on <a href="http://www.autoblog.com">Autoblo g</a> on Fri, 03 Jun 2011 10:30:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.autoblog.com/2011/06/03/fiat-comes-to-terms-with-treasury-to-buy-feds-560m-chrysler-st/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/forward/19957559/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2011/06/03/fiat-comes-to-terms-with-treasury-to-buy-feds-560m-chrysler-st/#comments" title="View reader comments on this entry">Comments</a>

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