Tuesday, January 20, 2009
Fiat & Chrysler in Partnership talks
Fiat Group is in negotiations with Chrysler LLC to form a strategic partnership that could include a Fiat equity stake in the ailing U.S. carmaker.
The pact would help Chrysler speed up and strengthen its relaunch plan. According to people familiar with the matter, Fiat could give Chrysler access to its mini-, small-, lower-medium and upper-medium platforms, engines and transmissions. This would allow Chrysler to quickly build a complete new range of front-wheel-drive, low-emission vehicles.Chrysler, which was acquired by private-equity firm Cerberus Capital Management LP in 2007, saw its sales drop 30 percent last year and has been forced to throttle back on new investment. It received $4 billion in emergency government loans this month.
DATED: 20.01.09
FEED: ANE
The pact would help Chrysler speed up and strengthen its relaunch plan. According to people familiar with the matter, Fiat could give Chrysler access to its mini-, small-, lower-medium and upper-medium platforms, engines and transmissions. This would allow Chrysler to quickly build a complete new range of front-wheel-drive, low-emission vehicles.Chrysler, which was acquired by private-equity firm Cerberus Capital Management LP in 2007, saw its sales drop 30 percent last year and has been forced to throttle back on new investment. It received $4 billion in emergency government loans this month.
DATED: 20.01.09
FEED: ANE
