Monday, September 23, 2013

Fiat car brings rescue consultant for Chrysler buyout in U.S.

MILAN / NEW YORK, 21.Aug (Reuters) - Italian carmaker Fiat in a veteran who 2009 brought US car sector bailout in an attempt, the blockade in talks to the minority investor in U.S. automaker Chrysler to buy, a man said, the familiar with the matter on Friday.

Fiat, which owns 58.5 percent of Chrysler, was ordered, Lazard Vice President Ron Bloom, help in the negotiations with the VEBA, a health care of trust fund, combined with the United Auto workers (UAW)-Union, which owns the remaining 41.5 percent.

Bloom was instrumental in the UAW, to accept, to persuade the automaker in 2009 saved a stake in Chrysler as part of the rescue package. He advises retirees in the municipal bankruptcy of Detroit also Detroit.

Fiat - CEO Sergio Marchionne, of Fiat and Chrysler operates as a company, wants to buy VEBAs participation on a small Detroit known as the big three automakers, world's seventh-largest automobile manufacturers and secure access to cash and technology that it takes against rivals to compete.

But talks with the social partners no closer to an agreement on, Marchionne pull said last week.

This means that the VEBA forward drives with his statutory right to demand to sell Chrysler, part of its stake in the initial public offering (IPO), which itself could be delayed Fiat's merger plans.

The IPO filing could take place as soon as the end of this month, or until the end of this week, Marchionne said.

JP Morgan previously used, to take the Chrysler-IPO as the Fiat takeover does not happen, other said a person familiar with the situation on Friday.

Fiat and Chrysler declined comment.

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