Fiat became the majority owner of Chrysler’s U.S.
Italian carmaker Fiat has become the majority owner of its American partner Chrysler after the government completed the takeover of shares in the United States and Canada. Chrysler, according to Reuters announced that it Fiat now owns 55.3 percent.
U.S. and Canada acquired stakes in Chrysler during the bankruptcy reorganization of the company in 2009. Fiat has said in early June, the remaining shares in the U.S. and Canada in buying Chrysler. In the U.S. share according to the AP paid 560 million dollars (9.5 billion kourun) per share and 140 million Canadian dollars.
Fiat before last won a fifth stake in Chrysler, along with control over management. Its share has increased several times. Fiat sales, according to the sixth largest automaker in Europe. In the first quarter, net income nearly tripled to 37 million euros from 13 million euros a year ago. Chrysler in the first quarter by trading with a net profit of $ 116 million after losing $ 197 million a year ago. Reported the first quarterly profit since leaving bankruptcy regime in 2009.