AM Online

Fiat bid for Chrysler approved

Fiat’s bid for Chrysler has been given court approval which should allow the US manufacturer to exit Chapter 11 bankruptcy protection soon.

Fiat will control 20% of Chrysler which it will acquire for free under the deal, 68% will be owned by Chrysler’s own union and the US and Canadian government will share a 12% stake.

Both governments have also approved an $8bn (£4.9bn) in loans for Chrysler.



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