MILAN: Italian carmaker Fiat said on Wednesday it had signed an agreement to buy the remaining 41.46 percent stake it does not own in its U.S. unit Chrysler from the VEBA Trust.

In a statement, Fiat said VEBA, a voluntary employee beneficiary association, would receive an overall $3.65 billion for the stake.

In view of the financial structure of the deal Fiat said it would not need to make any capital increase through a rights issue.

The deal is expected to close on or before Jan. 20, 2014, it said.