According to the online edition of the Financial Times, Fiat has reached an agreement to purchase a 35 percent stake in Chrysler, meaning Fiat could in future buy a majority share in struggling Chrysler which recently received a significant bail-out from the US government.

The companies are tight-lipped about the matter, though it is said the Fiat-Chrysler move involves less money on the table, and more reciprocal joint ventures. Chrysler would put facilities and sales network at Fiat’s disposition, while the Italian company would offer its expertise in the compact car sector whereby the American giant could gain some government rebates.

Source | Financial Times

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