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Fiat Buys Rest Of Chrysler From UAW; No IPO

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January 01, 2014 AT 12:56 PM
Fiat, owner of Chrysler Group, has agreed to buy the United Auto Workers' remaining 41.46% stake in Chrysler for $3.65 billion, plus four separate payments totaling $700 million. The agreement heads off a public stock offering of Chrysler shares that Fiat and Chrysler didn't want, but the UAW was forcing, in order to set a value on its stake. Fiat got control of Chrysler during the Detroit maker's 2009 Chapter 11 bankruptcy reorganization.