![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
CARMAKERS NEWS * USA
* Michigan - Marchionne: Fiat has cash to buy out Chrysler
Auburn Hills,MICH,USA -The Detroit News -April 10, 2013: -- Fiat SpA says it has enough money to buy the rest of Chrysler Group LLC from the United Auto Workers-run trust that owns a minority stake in the Auburn Hills automaker... On Tuesday, Fiat-Chrysler CEO, Sergio Marchionne, told investors at Fiat's annual shareholders' meeting in Turin, Italy, that there was no need for the company to sell additional shares to finance the transaction — assuming the two sides can agree on a price... Fiat gained control of a bankrupt Chrysler in 2009 as part of a bailout brokered by the Obama administration. The rest of the company was given to an hourly retiree health care trust run by the UAW as compensation for concessions made by the union and its members... Today, Fiat owns 58.5 percent of Chrysler, while the UAW trust owns the other 41.5 percent...
Labels: carmakers news USA and Canada
posted by Unknown @ 10:11 AM
0 Comments:
Post a Comment
<< Home