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Old January 19th, 2009, 04:45 PM
natkhat natkhat is offline
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Fiat May Expand U.S. Market Foothold by Buying Chrysler Stake

Guys do you think this will save Chrysler??

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an. 19 (Bloomberg) -- Fiat SpA, the Italian automaker that sells only Ferraris and Maseratis in the U.S., may be close to a deal to acquire a stake in Chrysler LLC to expand in the world’s largest auto market.

Fiat has an agreement in principle to acquire as much as 35 percent of Auburn Hills, Michigan-based Chrysler, the Financial Times of London reported, citing people familiar with the negotiations.

The non-cash deal would give Turin-based Fiat access to Chrysler’s dealership and manufacturing network in the U.S., the FT said. Fiat had been in discussions with multiple U.S. automakers about using their manufacturing facilities to build vehicles in the U.S. In August, Chrysler President Tom LaSorda said Chrysler had been approached by Fiat.

“In today’s economic environment, talks are going on between companies in all industries, ours is no different,” said Lori McTavish, a spokeswoman for Chrysler, in an e-mailed statement. She declined to comment further.

Chrysler would tap Fiat’s experience building small and medium-sized cars to accelerate its own plans to bring out new front-wheel drive vehicles offering lower emissions, while Fiat may use Chrysler’s North American production and distribution network to introduce the Alfa Romeo brand and Fiat 500 minicar in the U.S., Automotive News Europe reported today.

Chrysler, owned 80.1 percent by Cerberus Capital Management LP, is working on a restructuring plan to cut its debt level by two-thirds and strike a new labor deal to lower costs as part of a government mandate after getting a $4 billion loan from the U.S. Treasury to prevent failure.

Chrysler, in a plan submitted to the U.S. Congress in December, said alliances and partnerships were a critical part of the company’s plans for viability. Chrysler already has product partnerships with Volkswagen AG and Nissan Motor Co.
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Old January 19th, 2009, 06:12 PM
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Re: Fiat May Expand U.S. Market Foothold by Buying Chrysler Stake

Geedhad kee maut aati hai tab sahar kee aur bhaagtaa hai.

Chrysler already did it by hiring Nardelli as CEO, Now Fiat will do it.
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