Date: 10 Jun 2009 Comments: 0

It is official. Fiat has bought a big part of Chrysler share. The Supreme Court gave the go-ahead and the deal was sealed after just 42 days, getting Chrysler out of bankruptcy. Most of the assets owned by Chrysler now belong to Fiat and the federal government has also approves a $6.6 billion help for the group.

This could be considered a victory for the Obama Administration, managing to save Chrysler. Many people say that the new Chrysler Group LLC cam become very competitive in the future.

The Chrysler CEO is Bob Nardelli and Fiat’s Sergio Marchionne is also in charge. The chairmen say that this alliance will soon show signs of improvement.

In the future, Fiat will be able to grow his ownership to maximum 35%.