U.S. Treasury Sells Remaining Chrysler Shares To Fiat

On June 3, the United States Treasury announced it had agreed to sell its remaining stake of Chrysler Group LLC to Fiat, thus ending the government's participation with the automaker since the 2009 bailout. The Treasury's share (6 percent or 98,461 shares) will be sold to Fiat for $500 million.

The sale makes a Chrysler initial public offering (IPO) less likely since Fiat will have raised its holding in Chrysler to 52 percent when the deal is completed.

The deal was announced one week after Fiat had exercised an option following Chrysler's repayment of $7.6 billion in U.S. and Canadian loans. That option raised Fiat's stake in Chrysler to 46 percent.

In the end, U.S. taxpayers will have recouped all but $1.4 billion of the money given to Chrysler in 2009 while the company was in bankruptcy.