Arab Today, arab today canada sells remaining interests in chrysler to fiat
Last Updated : GMT 21:25:08
Arab Today, arab today
Arab Today, arab today

Canada sells remaining interests in Chrysler to Fiat

Arab Today, arab today

Arab Today, arab today Canada sells remaining interests in Chrysler to Fiat

Ottawa - AFP

Canadian Finance Minister Jim Flaherty announced on Thursday that Canada has sold its remaining interests in Chrysler Group LLC to Fiat for 140 million US dollars. \"Canada has now sold its remaining interests in Chrysler Group LLC to Fiat for 140 million US dollars, fulfilling our commitment to exit from ownership of Chrysler as quickly as possible while maximizing value for taxpayers,\" Flaherty said in a press release. Flaherty said that Chrysler\'s recent repayment of its loans was an important step in the turnaround of this company. Canada will receive 125 million US dollars for its remaining 1. 7 percent ownership stake in Chrysler, and an additional 15 million US dollars as a portion of proceeds arising from the assignment to Fiat of an agreement between the U.S. Department of the Treasury and the United Auto Workers (UAW) retiree medical trust. One-third of the proceeds will be given to the Government of Ontario, with two-third to the federal. In 2009, the U.S. Treasury, the Canadian government, and the UAW agreed to help bail Chrysler out of a bankruptcy restructuring. As part of that deal, the Canadian government lent a collective 1. 7-billion Canadian dollars (about 1.8 billion US dollars) to Chrysler, which was repaid in May, in addition to taking an ownership stake in the company. Flaherty said that approximately 52,000 Canadian jobs were protected by the action to support the automotive industry.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today canada sells remaining interests in chrysler to fiat Arab Today, arab today canada sells remaining interests in chrysler to fiat

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today canada sells remaining interests in chrysler to fiat Arab Today, arab today canada sells remaining interests in chrysler to fiat

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Auto: أخبار السيارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday