Chrysler receives court approval to sell most of its assets
By Andrew C., 30 Aug, 2010. 0 Comments
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The agreement was reached after only three days of talks. Now Fiat will have control over 20 percent of Chrysler, 68 percent will be owned by a union trust and the remaining 12 percent will be shared by the governments of the US and Canada. For its share, Fiat paid nothing and it has the option to boost its share later, as long as it reaches a performance benchmark. The agreement will provide the Italian carmaker access to the US market while Chrysler will take advantage of the former's expertise in manufacturing diminutives.
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