Fiat S.p.A. closed its takeover of Chrysler today, sealing the deal on Fiat's ambitious move to create a growing global player amid one of the worst crises in the auto industry's history.
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Michigan businessman Scott Devon was surprised to learn that no one was interested in buying Chryslers Dodge Viper business.
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Michigan businessman Scott Devon was surprised to learn that no one was interested in buying Chryslers Dodge Viper business.
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Fiat has officially taken over Chrysler after a last-minute challenge by a pension fund was brushed aside by the Supreme Court. As expected, Fiat CEO Segio Marchionne has been named CEO of Chrysler Group and Robert Kidder chairman.
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Chrysler should be in new hands by about 2pm BST today (10 June) after the US Supreme Court last night declined to hear a challenge by three Indiana state funds and several consumer groups to the sale of most of its assets to Fiat.
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Chrysler Group LLC and Fiat Group announced today that they have finalized their previously announced global strategic alliance, forming a "new" Chrysler that has the resources, technology and worldwide distribution network required to compete effectively on a global scale. The new Chrysler will begin operations immediately.
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As Chrysler Group LLC prepares to begin operations, the new company formed in alliance with Fiat announced an organizational restructuring to focus on the Chrysler, Jeep(R), Dodge and Mopar(R) brands. The new leaner, flatter structure is intended to restore brand promise and dealer confidence. All appointments are effective immediately.
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The Supreme Court cleared the way for a government-backed sale of Chrysler LLC to a group led by Italy's Fiat S.p.A., a victory for the bankrupt U.S. automaker and the Obama administration.
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The Supreme Court today cleared the way for a government-backed sale of Chrysler LLC to a group led by Italy's Fiat S.p.A., a victory for the bankrupt U.S. automaker and the Obama administration.
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The Supreme Court cleared the way for the government-backed sale of Chrysler LLC to a group led by Italy's Fiat S.p.A., a victory for the bankrupt U.S. automaker and the Obama administration.
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Chrysler LLC won court approval today to cut a quarter of its U.S. dealerships, and a bankruptcy court judge rejected requests to delay the order until the U.S. Supreme Court rules on the sale of the company.
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Stanley Balzekas Jr. had 100 new Chrysler and Jeep vehicles when Chrysler LLC informed him that his 83-year-old store in southwest Chicago would no longer be a Chrysler franchise.
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Fiat S.p.A. will not walk away from its plan to buy bankrupt Chrysler LLC, CEO Sergio Marchionne told Bloomberg after a U.S. court delay threw the deal into doubt.
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Fiat chief Sergio Marchionne has said the Italian company "will never" walk away from its deal with Chrysler despite yesterday's US Supreme Court decision to temporarily block the sale of the American carmaker's assets.
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Bankruptcy experts have said the surprise order last night by Supreme Court justice Ruth Bader Ginsburg putting a temporary hold on Chrysler's sale to Fiat might simply be the judge taking time to ensure the right ruling is made.
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Fiat CEO Sergio Marchionne's comments that he wouldn't abandon an alliance with Chrysler undermine arguments that postponing the bankruptcy sale could lead to Chrysler's liquidation, three Indiana pension funds told the Supreme Court.
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Fiat S.p.A. will not walk away from its plan to buy bankrupt Chrysler LLC, CEO Sergio Marchionne told Bloomberg after a U.S. court delay threw the deal into doubt.
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Reactions to the decision by Supreme Court Justice Ruth Bader Ginsburg to grant a request to delay the sale of bankrupt Chrysler LLC to a group led by Fiat's S.p.A.:
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The sale of bankrupt Chrysler LLC to a group led by Italy's Fiat S.p.A. was temporarily blocked by a U.S. Supreme Court justice on Monday, with no indication how long the delay would last.
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