Chrysler Repays Governments as Fiat Increases Stake to 46%
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Chrysler Group LLC repaid $7.6 billion in U.S. and Canadian government loans, and Fiat SpA increased its stake in the automaker as it plans an initial public offering.
The U.S. government was repaid $5.9 billion, and Export Development Canada, which holds the debt for Canada and the Ontario provincial government, received $1.7 billion, Auburn Hills, Michigan-based Chrysler said today in a filing. Repaying the loans allowed Fiat to boost its stake in Chrysler to 46 percent from 30 percent.