Fiat purchased the remaining six percent stake off the US Treasury for $500 million last month, as released in a US regulatory filing. Fiat also had to pay for the US government's right to buy stakes off the United Auto Worker's union, at a price of $75 million. A fully diluted stake of 1.5 percent stake held by the Canadian government has just been purchased for $125 million.
US Assistant Secretary for Financial Stability, Tim Massad, announced in a recent statement that,
"With today's closing, the US government has exited its investment in Chrysler at least six years earlier than expected. This is a major accomplishment and further evidence of the success of the Administration’s actions to assist the US auto industry, which helped save a million jobs during the worst economic crisis since the Great Depression."
Since the US Treasury first bailed Chrysler out of bankruptcy, in effect, US taxpers have invested a total of $12.5 billion, according to TARP’s Automotive Industry Financing Program. Now that the last stake has been sold, the US Treasury is said to have received back a total of $11.2 billion, putting, in effect, taxpayers at a loss of 1.3 billion.
Sergio Marchionne, CEO of Fiat and Chrysler, said that the two auto companies will have a single management structure in place soon.