Fiat Completes Acquisition of Chrysler Equity from Canada and the U.S. Department of the Treasury


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TURIN, ITALY – July 22, 2011: Fiat has acquired today the 1.5% fully diluted ownership interest1 held in Chrysler Group LLC by Canada. The consideration for such interest was US$125 million.

Fiat and the United States Department of the Treasury (“UST”) also today completed Fiat’s purchase of the 6% fully diluted ownership interest2 held in Chrysler by UST for a price of US$ 500 million, as contemplated by the agreements entered into in early June.

Under those agreements, UST also assigned to Fiat the UST’s rights under the Equity Recapture Agreement entered into between UST and VEBA on June 10, 2009,3 in exchange for cash in an amount of US$ 75 million, US$ 15 million of which was paid to Canada in accordance with arrangements between the UST and Canada.

After these purchases, Fiat holds a 53.5% fully diluted equity interest in Chrysler (after giving effect to the dilution of the Class A Interests held by all members (including Fiat) arising from the occurrence of the final “Class B Event” contemplated by the LLC Operating Agreement of Chrysler).

Following the occurrence of the final Class B Event, which is expected later this year, Fiat will hold 58.5% of the outstanding equity in Chrysler.

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