Big Three, Fiat | featured news

The Treasury Department said Thursday it has exited its investment in Chrysler LLC after Italian automaker Fiat SpA purchased the U.S. government's remaining holdings in the auto company.

The Treasury Department said on Thursday it reached an agreement to sell its remaining 6 percent equity stake in Chrysler to Italy's Fiat in a deal that will net Washington $560 million.

Chrysler is in the midst of a new-product blitz that includes revamped models of the Grand Cherokee and the 300 sedan, as well as smaller models it will get from Fiat.

Chrysler Group LLC says it will invest $550 million to build the Fiat 500 minicar at its assembly plant near Mexico City.

The Supreme Court on Tuesday cleared the way for the U.S. government-backed sale of Chrysler LLC to a group led by Italian carmaker Fiat SpA, a victory for the bankrupt automaker and the Obama administration.

Italian carmaker says it won't walk away despite opposition to its deal from a small number of creditors.

Chrysler’s sale to Fiat is on hold until Monday while Indiana’s pension funds appeal to the Supreme Court.

Approval of sale of assets to Fiat clears way for U.S. automaker to exit bankruptcy protection.

Robert Nardelli, Chrysler's departing chairman and chief executive, said he expects the sale of the bulk of Chrysler's assets to a group headed by Italy's Fiat Group SpA to close Friday, assuming the judge overseeing the automaker's bankruptcy protection case approves the deal.

The Italian carmaker that just took over Chrysler is in talks to buy GM's European operations.