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May 8, 2021
BUSINESS

Fiat offers Canadian Gov’t USD 125 M for its share of Chrysler

With the economy remaining unpredictable at best, Fiat has decided to take a much different route than its counterparts at General Motors when it comes to getting free of government ownership post-bankruptcy. Last week Fiat made a USD 500 M offer to the U.S. Treasury to buy the remaining 6 per cent stake held in Chrysler, now Fiat has offered USD 125 M to the Canadian government for its 1.7 per cent stake in Chrysler, according to CNN. The move involving the U.S. Treasury already put Fiat in a majority owner role with 52 per cent ownership, with the bid to the Canadian government intended to further solidify the automaker as the owner of Chrysler.

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