Italy’s largest car manufacturer, Fiat, has purchased a commanding share of the Chrysler Group LLC utilizing an asset purchase agreement. Retaining the largest percentage of the Chrysler Group LLC over Fiat is the United Auto Workers’ retiree healthcare trust fund. The completion of the asset purchase agreement between Fiat and Chrysler makes the joint operation the sixth largest carmaker in the world.

An Asset Purchase Agreement is a legal document involved in the purchase of all or some of the assets of one entity by another.

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