Fiat taking 35% stake in Chrysler

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Posted by Will (in IL) on Tuesday, January 20, 2009 at 08:33:02 :

http://www.autoweek.com/article/20090120/FREE/901209997

Fiat S.p.A. and Chrysler LLC confirmed today that the Italian company intends to acquire an initial 35 percent stake in the U.S. carmaker.

In a joint statement, Fiat, Chrysler and Chrysler's majority shareholder Cerberus Capital Management L.P, said they have signed "a non-binding term sheet to establish a global strategic alliance."

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No-cash deal may only buy Chrysler reprieve - Will (in IL) 08:34:33 01/21/2009

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