Posted on June 3rd, 2011 • by Bill Cawthon
Fiat SpA reached a deal last night to pay $500 million for the U.S. government’s remaining 6% share of Chrysler Group. In addition, the Italian automaker will pay $60 million for the Treasury’s rights to buy the stake held by the United Auto Workers Voluntary Employee Benefits Association (VEBA). An additional $15 million will be [...]
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Posted on May 9th, 2011 • by Bill Cawthon
Allpar has already reported that Fiat has considered buying additional shares of Chrysler beyond the widely reported 16%. Now, Automotive News is reporting the Italian automakers could double the 35% stake it will earn by meeting the government-mandated milestones. Fiat has a 12-month option to buy what remains of the U.S. Treasury’s 8.6% stake after [...]
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Posted on May 5th, 2009 • by David Zatz
The number of creditors objecting to the Chrysler-Fiat-Treasury plan appears to be dwindling, if a motion filed today by the “Attorneys for the Chrysler Non-TARP Lenders” (Thomas Lauria, who claimed death threats as the sole named attorney) is any evidence. In part II, the document tellingly describes the “Non-TARP Lenders” as holding “over $300 million [...]
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Posted on May 3rd, 2009 • by Bill Cawthon
On Monday, May 4, Chrysler LLC will file a motion to sell most of its assets to a new company managed by Fiat SpA. In a bid to keep its time in bankruptcy short, the Detroit automaker will ask the U.S. Bankruptcy Court in Manhattan to approve an alliance with Fiat and schedule an auction [...]
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