Fiat Makes Deal To Purchase Remaining Chrysler Shares - Northern Michigan's News Leader

Fiat Makes Deal To Purchase Remaining Chrysler Shares

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ROME (AP) -- Italian automaker Fiat will soon take full control of Chrysler.

Fiat agreed to buy the remaining shares of Chrysler that it doesn't already own.

It's buying the shares from the UAW's medical benefits trust for retirees for $1.75 billion. Another $1.9 billion will be paid as extraordinary dividends.

The deal comes more than 4.5 years after the Obama administration brought in Fiat to keep Chrysler afloat as part of a bankruptcy deal.

Chrysler returned to profitability in 2011 and has been steadily improving sales and market share.  

The deal is set to close by January 20.