Detroit: Italian automaker Fiat says it aims to buy the US government's remaining 6 percent share in Chrysler. After buying the shares, Fiat would occupy 52 percent of Chrysler.

Fiat on Saturday said it notified the Treasury Department that it will take an option to buy the shares. Chrysler would be free of US government ownership if the sale goes through.

The price would be negotiated within 10 business days. If no agreement can be
reached, Fiat would pay a price determined by investment banks appointed by both parties.

Chrysler announced on Tuesday that it has repaid USD 7.5 billion in bailout loans the company got from the US and Canadian governments.

Fiat earlier this week paid USD 1.3 billion for a 16 percent stake in Chrysler.