5/14/09

Chrysler Bankrupt: UAW, Fiat to Take Shares in Restructured Company


Chrysler Bankrupt: UAW, Fiat to Take Shares in Restructured Company - Motor Trend
A Fiat 500 built in Canada, Mexico or the United States may be the first product of the newly minted Chrysler LLC-Fiat Auto alliance.

A Fiat 500 built in Canada, Mexico or the United States may be the first product of the newly minted Chrysler LLC-Fiat Auto alliance. Chrysler LLC filed for bankruptcy and completed its deal with Fiat after the United Auto Workers agreed to concessions and four major banks agreed to cut debt to one third of current value in exchange for 15 percent of the new company. Only one group held out for more.

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