مصر موتورز مجتمع السيارات - Fiat Keeps Gobbling-Up Chrysler

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Fiat Auto is paying $1.27 billion for an additional 16 percent of Chrysler LLC, which will up its interest in the U.S. automaker to 46 percent. This gives Fiat controlling interest in Chrysler, as the deal -- concurrent with a bond sale to private investors - will also reduce the United Auto Workers' retiree and health benefits fund from 59.2 percent down to 45.7 percent. With the bond sale and Fiat's 16-percent purchase, Chrysler will be able to pay off U.S. and Canadian/Ontario government loans, though the U.S. government will still retain 6.6 percent of Chrysler. Canada and the province of Ontario will still own 1.7 percent.

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Fiat is expected to obtain another 5 percent of Chrysler soon to bring its interest to 51 percent, provided it introduces a 40-mpg (highway) EPA-rated car built in the U.S. wearing a Chrysler brand badge before the end of 2011. With Fiat and Chrysler pulling the plug on electric car development, the 40-mpg car is likely to be a 1.4-liter Multijet-powered Dodge Caliber. The Caliber is scheduled for replacement in model year 2013, so the Multijet version could be a 2012 model only, with the powertrain carried on to its replacement.
Prior to the bond issuance, the U.S. held 8.6 percent and Canada/Ontario had 2.2 percent of Chrysler. The U.S. Treasury is eager to sell off its remaining 6.6 percent, and it can do that by issuing Chrysler stock.