DETROIT, MI - Chrysler will become fully owned by Italy's Fiat under a deal that also involves the United Auto Workers union.
Fiat says it has agreed to pay nearly $4 billion for the more than 40% of Chrysler it doesn't already own.
It's buying it from the UAW's medical benefits trust for retirees.
The deal comes more than four-and-a-half years after the Obama administration brought in Fiat to keep Chrysler afloat as part of a bankruptcy deal.
Chrysler has enjoyed great success under Fiat's ownership.
It returned to profitability in 2011 and has been steadily improving sales and market share.