Chrysler Sale To Fiat Gets US Supreme Court Clearance
The Supreme Court of US has declined to extend a stay on the US government-backed sale of Chrysler assets to Fiat, thus clearing the way for the deal to close.
The court rejected a request to delay the deal, set forth by Indiana pension funds and other opponents of the transaction.
In order to close the sale, $2 billion of Federal fund must be transferred to Chrysler's creditors, and the wire transfer deadline had already passed by the time the high court cleared the deal - as quoted in Reuters.
The court’s decision would let Chrysler-Fiat deal to go ahead, permitting Chrysler to re-emerge as a competitive automaker. Chrysler is seeking to leave its bad debts in bankruptcy, and move ahead with its good assets for the latest tie-up with Fiat.
Latest News
Related News
Related Insight
Suppliers Directory
Auto Components Chassis & Suspension Powertrain Paints & Materials
Technology Automobile Technology Testing
Leasing & Insurance
Supply Chain Automobile Distribution Fleet Management
Green Technology Green Vehicles Green Powertrain
Intelligence
“Competing For Share Of Global Automotive Industry Spend In 2010-2011” is a new report published by ICD Research that analyzes how industry suppliers’ media spend, marketing and sales strategies & practices and business planning will be shaped in 2010 to 2011. In an uncertain economic climate this report gives you access to the media channel spending outlooks, media budgets, marketing agency selection criteria, business challenges and sales tactics of leading suppliers to the chemicals industry. The report also identifies automotive manufacturers and suppliers future growth, M&A and investment expectations. The research is based on an extensive survey of senior and C-level industry executives from our market leading panels. Reports Buy online from $2000

Comments may be moderated for spam, obscenities or defamation.