After two years of partial ownership, Fiat has become the majority shareholder in Chrysler.

After two years of partial ownership, Fiat has become the majority shareholder in Chrysler.

The Italian company just acquired an additional 1.5% stake from Canada and a 6% stake from the U.S. Treasury to obtain a 53.5% holding in the American automaker.

While this is big news for both firms, the real story is U.S. taxpayers are off the hook for Chrysler's bankruptcy. However, the U.S. Treasury believes they are unlikely recover $1.3 billion (€902 million) owed by Old Chrysler.

In a statement, the U.S. Treasury's Assistant Secretary for Financial Stability said "With today's closing, the US government has exited its investment in Chrysler at least six years earlier than expected. This is a major accomplishment and further evidence of the success of the Administration's actions to assist the US auto industry, which helped save a million jobs during the worst economic crisis since the Great Depression."

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