May 26, 2011
Fiat closes on its $1.27 billion acquisition of an additional 16 percent stake in Chrysler, raising its ownership in the U.S. automaker to 46 percent on a fully diluted basis.
On May 24, Chrysler Group LLC announced the repayment of $7.6 billion in outstanding U.S. and Canadian government loans following the completion of new refinancing transactions. Repayment was funded by private borrowing and a $1.27 billion equity investment by Willkie client Fiat S.p.A., which increased its stake in Chrysler from 30 percent to 46 percent on a fully diluted basis in a deal announced last month.
The deal was handled by partners Robert Stebbins, Matthew Feldman, Leslie Mazza, Richard Reinhold, Richard Bernstein and James Dugan; special counsel Catherine Harrington; and associates Michael Brandt, Delano Ladd, Brandon Ladoff, Joseph Antignani, Tyler Ladner, Kristin McNamara Pauley and Nelson Wagner.
Click here to read Willkie’s April 22 announcement on the acquisition.
