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Chrysler IPO Coming Up as Fiat Counts on Merger
2013-11-17 17:25:01| AutomotiveDigest.com - Automotive Industry News
Sergio Marchionne, chief executive of Fiat and Chrysler, is counting on a merger of the two companies as Fiats financial performance gets hit. Fiats third quarter profits were hurt, but Chrysler had strong results. Marchionne would like to see the two companies merge to better compete with global majors GM and Volkswagen. His efforts have been undercut by union healthcare trust Veba, which owns 40.5% of Chrysler not held by Fiat; Veba wants to see an initial public offering that Marchionne would rather avoid. Marchionne has been credited for creating a partnership and integration between Fiat and Chrysler, avoiding the mess that happened not long ago with Daimler not treating Chrysler as an equal partner. Read all about whats next for the Fiat and Chrysler merger.The Article Chrysler IPO Coming Up as Fiat Counts on Merger appeared first on Automotive Digest.
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Category:Automotive