Following an announcement earlier this month, Fiat has acquired the remaining stake of Chrysler Group LLC.

Following an announcement earlier this month, Fiat has acquired the remaining stake of Chrysler Group LLC.

Coming nearly five year after an alliance was struck, the acquisition gives Fiat the remaining 41.4616% of Chrysler they previously didn't own. As a result of the deal, Chrysler is now a wholly-owned subsidiary of Fiat.

Neither company had much to say about the deal, but Fiat and Chrysler CEO Sergio Marchionne has previously said “In the life of every major organization and its people, there are defining moments that go down in the history books. For Fiat and Chrysler, the agreement just reached with the VEBA is clearly one of those moments." He added, "The unified ownership structure will now allow us to fully execute our vision of creating a global automaker that is truly unique in terms of mix of experience, perspective and know-how, a solid and open organization that will ensure all employees a challenging and rewarding environment.”

 

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