Fiat brokers $4.35 billion deal for Chrysler

03/01/2014
Italian carmaker Fiat has gain full control of the Chrysler Group, ending more than a year of tense talks with a healthcare trust which owned 41% of the US company.

Sergio Marchionne, who has run both companies since Chrysler's 2009 bankruptcy restructuring, aims to merge Fiat and Chrysler into the world's seventh-largest auto group.

"The unified ownership structure will now allow us to fully execute our vision of creating a global automaker," he said.

The merged group said is aiming to list in New York within the year, which observers have said points to it emerging as a US-centric organisation.