| Chrysler-Fiat Deal Signed, Company Exits Chap. 11 |
| News - Americas |
| Written by FOXBusiness |
| Wednesday, 10 June 2009 09:17 |
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FOXBusiness - Chrysler announced the sale of its "good" assets to New Chrysler, an entity to be led by Italian auto maker Fiat SpA.
In a simple announcement Wednesday morning, Fiat closed its purchase and alliance with Chrysler after the U.S. Supreme Court denied an emergency appeal from some of Chrysler's creditors Tuesday evening. Robert Kidder was appointed to serve as chairman of the New Chrysler and Sergio Marchionne as CEO. Jim Press, who joined Chrysler after 14 years with Ford (F: 6.21, -0.07, -1.11%), will become deputy CEO and advisor to Marchionne. |