Chrysler Group Files IPO, Complicating Merger With Fiat
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Chrysler Group, the carmaker controlled by Fiat, filed for an initial public offering in the U.S., complicating Sergio Marchionne’s efforts to merge the two companies.
Chrysler’s retiree healthcare trust is offering $100 million of shares, according to a regulatory filing today. The filing didn’t say how many shares will be offered or at what price. The offering size is a placeholder amount used to calculate fees and may change.
Mr. Marchionne, who is chief executive officer of both Fiat and Chrysler, and the United Auto Workers’ healthcare trust, are locked in a dispute over Chrysler’s value. Fiat is seeking to buy the trust’s stake and merge the two companies to create a global player with the scale to compete with industry leaders Toyota Motor Corp., General Motors Co. and Volkswagen.
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