Chrysler is going to become a wholly owned subsidiary of Fiat.
The automaker announced that the 41.46% stake owned by the United Auto Workers’ VEBA trust fund will be sold to Fiat, Auto Blog reports.
The VEBA healthcare trust will receive $4.35 billion where Fiat will pay $3.65 billion, including $1.75 billion in cash and an additional $1.9 billion will be part of a “special distribution,” the publication said.
