Chrysler plus Fiat equals what, exactly?


Chrysler L.L.C. today faded into history, as it closed its much ballyhooed partnership with Italian automaker Fiat SpA.

The merger clears the way for the third-largest automaker to emerge from Chapter 11 bankruptcy protection, after rejecting objections raised by a group of Indiana pension funds which some feared could delay or potentially scuttle the deal.

"The combined Fiat-Chrysler will get another $4 billion in government loans when the sale closes," according to the Detroit Free Press. "A group of about 45 banks, hedge funds and the Indiana pension funds also will receive $2 billion in cash to settle $6.9 billion in secured debt they hold."