It really was just a matter of time.


USA TODAY -- Fiat notified the U.S. Treasury today that it will take an option to buy out the government's remaining 6% stake in Chrysler Group.

When Fiat buys the shares, it will end all U.S. government ownership in the company. That would close out the U.S. involvement less than two years after the 2009 Obama Administration-controlled Chrysler bankruptcy and bailout that gave 20% and control to Fiat -- a remarkable turnaround.

The additional 6% would bring Fiat's ownership of Chrysler to a majority 52%. According to the Associated Press, a price for the government stake will negotiated within 10 business days. If no agreement can be reached, Fiat would pay a price determined by investment banks appointed by both parties.

This week, Chrysler also repaid its $7.5 billion in outstanding bailout loans from the U.S. and Canadian governments.

Fiat earlier this week paid $1.3 billion for a 16 percent stake in Chrysler.

Chrysler may no longer be a US owned company | ksdk.com

 

It really hasn't been a US company for some time.

 

Chrysler has not been Chrysler since Walter P. Chrysler died and control went to investors. The investors are international and a mixed bag. not US. gary

 

Wholly owned yes, but even with 6% ownership by the government, it was still partially owned.

 

I'm just happy that we saved all of those American jobs - parts suppliers, assembly, management, delivery, food service, etc.

 

Yep, if it were not for MB, Fiat and other foreign investors, as well as our government investments, Chrysler would have been shut down a long time ago.

For the economy's and jobs sake, I'm glad Chrysler as well as GM are coming around after the bail-outs. Many jobs were saved in the US, and more jobs are now being created.

 

So right, FP! I just saw where GM is going to be making their new subcompact, the Sonic at an assembly plant in Michigan - rehiring 1000 workers. And now, citing lower costs, VW is going to be making the Tiguan here in America too. Maybe we're starting to see some good things happening!

 

Let's hope!