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Black 6050 21st January 2014 20:49

Fiat has acquired Chrysler
*Non importa chi possiede effettivamente Chrysler, consider sempre mio sfidante ed e HEMI V8 di essere tutti American. Aspetta un attimo, sto effettivamente parlare Italiano? Grazie molto Fiat! Ora Hai me parlando Italiano!

*Translation: No matter who actually owns Chrysler, I will always consider my Challenger and its HEMI V8 all America. Wait a minute, am I actually talking Italian? Thanks a lot Fiat! Now you’ve got me speaking Italian!

Fiat has acquired Chrysler

January 21st, 2014
by David Zatz

Fiat has completed its purchase of Chrysler from the VEBA Trust (technically, “the UAW Retiree Medical Benefits Trust.”)
Chrysler Group is now completely owned by Fiat, as it was once owned by DaimlerChrysler.

The deal included payments by Chrysler Group itself, as well as Fiat; both companies paid from cash on hand.

Chrysler and the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (the “UAW”) agreed to continue existing agreements.

The VEBA Trust was originally set up to provide health benefits to retired union workers at Chrysler, and received equity in the new company to partly fulfill the old company’s obligations. Both GM and Chrysler set up separate retiree trusts to move liabilities off their books and replace uncertain future payments with firm, timed contributions.

Fiat is now expected to change its name to Fiat-Chrysler Automobiles and move its official headquarters (possibly to Holland). It is unlikely that any Chrysler’s brand name will change; while Daimler-Benz replaced the word “Chrysler” with “DaimlerChrysler” on parts, cars, and official documents, it is unlikely that any customer will see the word “Fiat-Chrysler” stamped on their car.

Carolina Magnum 25th January 2014 01:07

I'm curious to see what, if any, changes will happen

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