Chrysler Repaid The Loans Of 7.6 Billion Dollars. Fiat Took Control

U.S. carmaker Chrysler has returned on Tuesday, loans of $ 7.6 billion received in 2009 from U.S. and Canadian governments. Fiat has paid 1.27 billion dollars to increase its shareholding from 30% to 46%.

Chrysler has paid USD 7.6 billion representing the loans, commissions and interest in more than two years after leaving under bankruptcy protection. Payment is to return a loan of $ 5.9 billion to the U.S. Treasury and $ 1.7 billion by the Canadian authorities, Chrysler said.

Under the terms of the loan agreement of 2009, Chrysler had a deadline until 2017 to repay the two loans. The group obtained the necessary funds by refinancing it provides savings of 350 million dollars a year in interest expense.

Also Tuesday, Fiat Chrysler paid 1.27 billion dollars to increase its stake in U.S. manufacturer, from 30 percent to 46%. Now Fiat has control, and in June, the Italian company will report quarterly earnings include Chrysler, said Sergio Marchionne, Fiat CEO.

May the U.S. Treasury now holds 6.6% of Chrysler and United Auto Workers union has 45.7% of the company.

Narada says analyst Jack loan payment could help Chrysler to dissipate the animosity of American opponents of American business to save taxpayers money. "From the perspective of the buyer, who were totally opposed to the loan. Payment this period and even before neirosirea public money is a good counter-argument. "

Dealers are expected to benefit them. "For a time during the bankruptcy, I think Chrysler and GM have been less devious," says David Shepherd, owner of a dealer in Kansas. "Who wants to buy a car from a company that went bankrupt?" Says Shepherd selling GM cars, Chrysler, Toyota and Ford.

The U.S. government has recovered well, almost half of the 49.5 billion dollars spent to save General Motors. The second largest U.S. car manufacturer has paid 23.1 billion dollars and has managed to repair their reputation with new products.

Source: http://www.chrysler.com/


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