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  • adspatz adspatz Jan 2, 2014 10:00 AM Flag

    Fiat to purchase Chrysler, avoids IPO

    Search for "SEC Live Filings Digest" to find out more.
    Fiat SpA (FIATY) has made an agreement to purchase the remaining Chrysler shares from United Auto Workers in a deal valued at $4.35B. Fiat will purchase UAW’s 41.46%, in a $3.65B transaction plus four additional payments of $175M, totaling $700M, this year. This ends the months-long struggle between Fiat CEO Sergio Marchionne and the UAW after repeated disagreements on pricing. In an effort to continue the process Fiat, the majority-owner of Chrysler, initiated the steps towards an IPO to establish a value for UAW’s stake. No further details have been released regarding what plans exist for the newly combined company but Marchionne has expressed that the combined entity can now move forward with its global vision.

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