Fiat and Chrysler on Wednesday finalised a global strategic partnership that they said would start operations “immediately”. The alliance focuses on a “new Chrysler” comprising most of the bankrupt carmaker’s assets; Sergio Marchionne, Fiat’s chief executive, will become Chrysler’s new CEO. A Fiat subsidiary has taken a 20% equity interest, to be raised in increments to 35%. But Fiat will not be allowed to take a majority stake in Chrysler until all taxpayer funds are repaid.

This entry was posted by Gwen Robinson on Thursday, June 11th, 2009 at 4:57 and is filed under Capital markets, M&A. Tagged with chrysler, Fiat. Edit this entry.