Indiana pension funds asked the U.S. Supreme Court today to immediately delay the sale of bankrupt Chrysler LLC to a group led by Italy's Fiat S.p.A. while they challenge the deal.
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Fiat CEO Sergio Marchionne said on Friday that Saab has "minimal" interest for Fiat without Opel. "The work on Saab was linked to Opel, taking into account that the technical input all came from Opel," Marchionne said.
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Investment bank UBS has said in a research note that Ford Europe could make a good candidate for a link-up with either Fiat or PSA.
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Fiat's efforts to acquire Opel are not dead and buried according to the Italian carmaker and a government minister.
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Fiat CEO Sergio Marchionne on Friday reiterated the carmaker's interest in taking over Opel. "The interest is still there, it doesn't depend on us," he told reporters on the sidelines of an event in Turin.
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The sale of bankrupt Chrysler LLC to a group led by Italy's Fiat S.p.A.. was upheld by a U.S. appeals court Friday, but the deal is expected to be appealed to the Supreme Court by a group of investors.
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A U.S. federal appeals court today will hear arguments that Chrysler LLC's sale to a group including Italy's Fiat S.p.A. and the U.S. government violates long-standing bankruptcy law and should not be allowed to go forward.
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All U.S. customers of the new Chrysler to emerge from bankruptcy will be covered by "lemon law" rights under an agreement reached by the company and Fiat S.p.A. with states led by Iowa.
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Turin, Italy - Movie lovers will remember Divorce, Italian Style, the hilarious comedy starring the one-and-only Marcello Mastroianni. Rest assured, we do not intend to talk about divorce or even comedy but rather of a suspense thriller whose happy ending will mean the survival of major local employer and the arrival of a "new" car manufacturer on the North American scene.
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All U.S. customers of the new Chrysler to emerge from bankruptcy will be covered by "lemon law" rights under an agreement reached by the company and Fiat S.p.A. with states led by Iowa.
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A growing team of Fiat S.p.A. executives and engineers has been working at Chrysler's headquarters this week, finalizing plans to cut costs and ready the Fiat 500 small car for the U.S. market, people with knowledge of the work said.
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Now that Fiat has apparently lost out in the bidding for Opel/Vauxhall, speculation has risen concerning alternative strategies that Fiat might employ to become part of a carmaking group with bigger scale. PSA Peugeot Citroen is in the frame again.
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Fiat declined to comment today on a newspaper report that it could make a new bid for Opel. The Sueddeutsche Zeitung quoted sources at Fiat as saying that if the GM-Magna talks were to fail, Fiat would resume negotiations over Opel.
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Chrysler will have little need for the hundreds of dealers it wants to close if it completes its sale to Fiat as expected, the judge overseeing the automaker's bankruptcy said today.
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Chrysler's sale of most of its assets to a group led by Fiat will move to the US Court of Appeals for the Second Circuit, bypassing the lower District Court, a bankruptcy court judge has ordered.
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Turin, Italy - Auto123 recently paid a visit to the Fiat Powertrain Technologies Division (FPT) of Centro Ricerche Fiat (research center), headed by Executive Vice President, Dr. Rinaldo Rinolfi.
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A U.S. Court of Appeals agreed on Tuesday to hear a challenge to Chrysler LLC's sale of most of its assets to a group led Fiat, in a move that could potentially delay the deal.
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Magna International said on Wednesday it expected to complete its takeover of Opel in September but the German government made clear the door remained open to rival bidders.
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Magna International said on Wednesday it expected to complete its takeover of Opel in September but the German government made clear the door remained open to rival bidders.
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Fiat S.p.A. CEO Sergio Marchionne is not the only European auto executive with consolidation on his mind.
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