Fiat willing to buy Canada's Chrysler stock

Source: AP

TORONTO (AP) - The chief executive officer of Chrysler and Fiat said Monday he and Canadian authorities have begun talking about purchasing Canada's 1.7 percent ownership in Chrysler.

The Canadian federal government and provincial Ontario governments received 1.7 percent of Chrysler two years ago as part of a bailout that also provided $1.7 billion in loans to help the Detroit company survive.

Chrysler, already controlled by Fiat, recently paid back the last of the money it borrowed from the Canadian and American governments. Fiat then began the process of buying the shares owned by the U.S. government.

Chief executive Sergio Marchionne joined Canadian Finance Minister Jim Flaherty at a Chrysler Canada casting plant in Toronto on Monday to announce the loan repayment.


Read more: http://apnews.excite.com/article/20110530/D9NHVV0O1.html

if the GOP had their way, it would still be worth that today or less.

unless Fiat wanted it lock, stock and barrel.

In Europe they've combined Chrysler in some of their Fiat dealerships and vice versa - no conflict there on product ranges. They look to have similar in the US : http://www.media.chrysler.com/newsrelease.do;jsessionid=27AE096B9F2276EB7F1A36B16656F6F3?&id=10325&mid=2

I'm not sure which Fiats they sell in the US. I had the impression our European small engined cars, paricularly diesels which generally do far more to the gallon than US cars were not too popular in the US.

Fiat Grande Punto 1.3 petrols do over 80mpg on long distance extra urban which is 64 / US gallon.

edit. link above breaks - need to cut and paset whole line.

I was wondering why there were little Fiats in the showroom.

(kidding)

Enjoy the truck!

They're instead of a spare wheel. You just unload the Fiat and drive the duff wheel to the nearest place it can be repaired and then drive back again.

Car giant Chrysler to sever ties with US
WalesOnline
Jun 3 2011


Chrysler Group will soon sever its ties with the US government.

Italian carmaker Fiat agreed to buy the US Treasury’s 6% interest in Chrysler for 500 million US dollars.

Once the deal closes, the government will no longer hold a stake in the company.

President Barack Obama is expected to announce the agreement today during a trip to a Chrysler facility in Toledo, Ohio.

Fiat also agreed to pay 75 million US dollars for the right to buy Chrysler shares held by a trust for retired carworkers.

More:
http://www.walesonline.co.uk/news/latest-world-news/2011/06/03/car-giant-chrysler-to-sever-ties-with-us-91466-28814078/