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Fiat has owned part of Ferrari since 1969 when it bought a 50% stake in the carmaker. Fiat has been Chrysler's parent since right after Chrysler's bankruptcy and government bailout in 2009. Fiat officially took over Chrysler last year as the two companies merged into FCA. Â© 2017 Time Inc.
Fiat buys rest of Chrysler from UAW; no IPO. Fiat, owner of Chrysler Group, has agreed to buy the United Auto Workers' remaining 41.46% stake in Chrysler for $3.65 billion, plus four separate payments totaling $700 million. The agreement means the planned IPO won't proceed.