U.S. automaker Chrysler will become fully owned by Italy's Fiat under terms of an agreement announced Wednesday that also involves the United Auto Workers union.
The agreement comes more than 4-1/2 years after the Obama administration brought Fiat in to keep Chrysler in business as part of a packaged bankruptcy proceeding.
In a statement, Fiat said it has agreed to pay $3.65 billion for the 41.46% of Chrysler it doesn't already own from the UAW's medical benefits trust for retirees. More
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