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Fiat SpA reached a deal last night to pay $500 million for the U.S. government's remaining 6% share of Chrysler Group. In addition, the Italian automaker will pay $60 million for the Treasury's rights to buy the stake held by the United Auto Workers Voluntary Employee Benefits Association (VEBA). An additional $15 million will be paid to the Canadian government. A Fiat press release announcing the deal was issued this morning in Italy. In the release, Fiat Chairman John Elkann said: “On behalf of my family and I, I reiterate our confidence in Sergio Marchionne and his leadership team and our support of all the people at Fiat and Chrysler who are working with dedication and humility and have made it possible to repay the trust that the U.S. government demonstrated towards us a mere 23 months ago. We will continue to support them as they further strengthen this historic..

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[finc.jb]

One word.

AWESOME!!!  

[tryphon]

Great result! A milestone for the new company!!!!