The Italian carmaker, Fiat, which had owned a majority stake is in Chrysler, is taking over the rest of the company, in a deal announced in the New York Times. Fiat had to reach an agreement with the United Automobile Workers retiree health care fund.
Fiat had shared ownership with the U.A.W. trust since 2009 and should complete ownership of the American car company on January 20.
The deal will make Fiat the world’s 7th largest car company.