“DETROIT (Reuters) – Chrysler Group LLC on Tuesday paid back $7.6 billion in U.S. and Canadian government loans from its 2009 bailout, a move that allows the U.S. automaker to distance itself from an unpopular bailout and deepen its ties with Italian automaker Fiat SpA.
Chrysler said it had made payments of $5.9 billion to the U.S. Treasury and $1.7 billion to the governments of Canada and Ontario to repay loans it received in June 2009.
The repayment puts Chrysler on firmer financial ground and draws it closer to Fiat, two goals investors and bankers have said would make Chrysler more attractive in an initial public offering that could come this year or next.”
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