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VOL. 37 | NO. 16 | Friday, April 19, 2013
Fiat mulls IPO after buying Chrysler
DETROIT (AP) — The head of Italian automaker Fiat is considering a plan to hold a public stock offering after the company buys 100 percent of Chrysler, according to a person briefed on the matter.
The plan to sell shares of a combined company is among several options being evaluated by Sergio Marchionne, who serves as CEO of both automakers, said the person, who requested anonymity because no decision has been made.
Fiat now owns 58.5 percent of Chrysler, and wants to buy the remaining 41.5 percent from a health care trust fund for union retirees. The two sides differ on price, and that may be decided by a U.S. court.