Fiat has placed a bid worth $125 million to acquire the Canadian government’s stake in Chrysler Group, The Wall Street Journal reports. The Italian automaker is seeking to buy the government’s 1.7% stake.
Fiat had recently agreed to buy a 6% stake held by the U.S. Treasury in Chrysler for about $500 million. Fiat is paying $75 million for the U.S. Treasury’s option to acquire all Chrysler shares held by VEBA, United Auto Workers’ healthcare trust, adds Reuters. Currently, Fiat holds about a 52% stake in Chrysler.
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