Tuesday, June 9, 2009

Supreme Court Allows Transaction With Fiat To Close








Supreme Court Allows Transaction With Fiat To Close

Chrysler Group LLC Set To Emerge As A Stronger, More Competitive Global Company Auburn Hills, Mich. , Jun 9, 2009 - Chrysler LLC said today the Supreme Court of the United States has lifted the stay on its transaction with Fiat, enabling the previously announced global strategic alliance, forming a vibrant new car company, to proceed. The transaction is expected to close very shortly.

The new company will build upon Chrysler’s proud history of innovation and Fiat’s complementary technology and expertise to expand Chrysler’s product portfolio in the U.S., Canada and overseas. As the new company restarts operations in its facilities, it will continue work already underway on new environmentally friendly, fuel-efficient, high-quality vehicles that will become Chrysler's hallmark going forward.