Audi A8 Wallpapers

January 22, 2014

Fiat completes remaining acquisition of Chrysler From VEBA Trust

Fiat S.p.A. (“Fiat”) through its wholly owned subsidiary, Fiat North America LLC (“FNA”), today completed its previously announced acquisition of all of the VEBA Trust’s[1] membership interests in Chrysler Group LLC (“Chrysler Group”). Chrysler Group is now a wholly-owned subsidiary of Fiat. The consideration for the acquisition consisted of:

a special distribution paid by Chrysler Group to its members on January 21, 2014 of U.S.$1,900 million (FNA directed its portion of the special distribution to the VEBA Trust as part of the purchase consideration); and
a cash payment by FNA to the VEBA Trust of U.S.$1,750 million.
Fiat funded the U.S.$1,750 million payment from available cash on hand. Chrysler Group funded the special distribution from available cash on hand.
As previously announced, contemporaneously with the transactions described above, Chrysler Group and the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (the “UAW”) entered into a Memorandum of Understanding under Chrysler Group’s existing collective bargaining agreements to provide for additional contributions by Chrysler Group to the VEBA Trust of an aggregate of U.S.$700 million in four equal annual installments, the first of which was paid in connection with closing of the transaction with Fiat. 
As part of the transactions and as promptly as practicable, FNA and the VEBA Trust will dismiss with prejudice the proceedings before the Delaware Court of Chancery with respect to the interpretation of the call option agreement.

source:cardekho


cardunia

Author & Editor

Has laoreet percipitur ad. Vide interesset in mei, no his legimus verterem. Et nostrum imperdiet nostrum imperdiet appellantur appellantur usu, mnesarchum referrentur id vim.



0 comments:

Post a Comment

Social Time

Facebook
Like Us
Google Plus
Follow Us
Twitter
Follow Us
Pinterest
Follow Us

Subscribe to our newsletter

(Get fresh updates in your inbox. Unsubscribe at anytime)