Fiat, the Italian car company is set to earn more from Chrysler this year. Fiat has 58.5 % stake in the American car company, which made significant changes in its funding and had refinanced debt. These changes are bound to triple the amount of the payout that Fiat can receive.
Under the old conditions before the changes were made, Fiat was restricted to collecting $300 million in dividends. With all of the changes, the Italian company is set to take in more than $936 million, which is a vast jump from the previous amount.
Chrysler refinanced its $3 billion debt which it took out in 2001. That loan was in turn used to pay the bailout plan of the Canadian and the United States government back in 2009 when Chrysler was in deep trouble.
The refinancing of the loan is seen as another step towards the eventual merger of the two automotive giants.
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