Government sells remaining stake in Chrysler to Fiat for $140 million
The federal and Ontario governments have sold their remaining stakes in automaker Chrysler to its parent company Fiat for US$140 million.
Fiat, the Italian carmaker, says it is speeding up its planned takeover of Chrysler by paying back government loans to the US and Canada by the end of June and exercising its option to buy an additional 16 per cent stake in the US company for $1.27bn.