Fiat Still Committed to Chrysler

Tuesday, Italian automaker Fiat remained committed to gaining majority control over Chrysler, even with the recent Supreme Court stay on the sale. In the agreement, Fiat has the option to walk away from the deal if it is not completed by June 15. Three Indian pension and construction funds, which hold a portion of the remaining Chrysler debt, are claiming that the pending sale unfairly supports unsecured stakeholders vs. secured debt holders.

Amid the confusion and pending decisions from the Supreme Court, Fiat remains committed to Chrysler. “Fiat won’t walk away from Chrysler,” Fiat spokesman Gualberto Ranieri

The pending agreement allows Chrysler to have access to the environmentally-concious engine technologies and management expertise of Fiat, all for a 20 percent stake in the company.

Fiat will also bring the popular Fiat 500 and the Alfa Romeo brand to the U.S.

DrivePwr will continue report on the pending sale. Stay Tuned!