Italian automaker Fiat has offered $125 million to buy the Canadian government’s stake in Chrysler Group LLC.
Marchionne added that should Fiat reach a deal with VEBA — the United Auto Workers’ healthcare trust — over the fund’s 45.7 percent stake in Chrysler, a Chrysler IPO may “no longer be necessary.”
The Government of Canada owns 1.7% holding in the U.S. number three automaker.
Previously, Fiat consolidated 46% of the shares of Chrysler, which has paid 7.6 billion dollars in loans to the Government of the United States and Canada. The head of Fiat, Sergio Marchionne has already reported that in the future he plans to integrate operational activities of Italian and American corporations.
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Chrysler Fully Repays Government Loans, Fiat Stake Increases To 46%