June 11, 2009
Fiat closes deal to take Chrysler’s good assets
Posted by: admin : Category: Current affairs
Italy’s Fiat is the new owner of the bulk of Chrysler’s assets, closing a deal that saves the troubled US automaker from liquidation and places a new company in the hands of Fiat’s Chief Executive Officer. Fiat CEO Sergio Marchionne was immediately named CEO of the new company, which said in a statement that it would soon reopen Chrysler factories that were idled during the bankruptcy process, costing the automaker $100 million per day.
