PEUGEOT buys CHRYSLER Europe for $1

[PaykanHunter]

That was August 1978. This is known as the $1 deal. I did a Google Newspaper search and found out that Chrysler actually got $280 million + 18% of Peugeot shares for the sale of its European division (Rootes + SIMCA). BUT Chrysler Europe was $400 million in debt. 

 

Was that 1$ basically a write off for the tax man?... 

 

Here is the article link:

https://news.google.com/newspapers?id=e4IuAAAAIBAJ&sjid=faEFAAAAIBAJ&pg=1430%2C3533141

 

 

[cort16]

I don't think Fiat even paid $1 for Chrysler when they took them over a couple of years ago. 

[PaykanHunter]

I don't think Fiat even paid $1 for Chrysler when they took them over a couple of years ago. 

I think you are correct. That was the deal of the century!

[cort16]

They got ripped off back in '78. If you add in inflation that 320 million the government laid out to bail out Chrysler translates to $1.2 billion in todays money. That's a lot of cash.

[warren t claim]

I'd splash out another $15 and buy Rover as well.