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Reuters reports that Canadian Finance Minister Jim Flaherty said the government is open to selling its 1.7 percent stake in Chrysler to Fiat, but is going to look for the best price. Speaking at a news conference at the Etobicoke Casting Plant yesterday, Flaherty said, “We have to look out for good value for Canadian [...]
Fiat SpA has notified the U.S. Treasury that it plans to buy the government’s remaining stake in Chrysler Group LLC by the end of 2011, boosting the Italian carmaker’s holding to 57 percent. In a statement released today in Turin, Fiat made the required notification to the Treasury of the Italian company’s intent to exercise [...]
Chrysler CEO Sergio Marchionne and CFO Richard Palmer presented Chrysler’s first quarter financials to industry and financial analysts on a conference call this morning. To view the presentation in Adobe PDF format, click here. While much of the discussion reiterated the figures already released, there were some noteworthy comments from Marchionne on several topics. First, [...]
Chrysler Group announced today that it plans to commence new financing transactions consisting of: • senior secured credit facilities including an expected $3.5 billion six-year term loan and a $1.5 billion five-year revolving credit facility; and • an expected $2.5 billion in new secured debt securities (the “Notes”), expected to have eight- and ten-year maturities. [...]