Chrysler-Fiat deal completed - South Florida Business Journal:

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The news follows the U.S. Supreme Court's decisionb that three Indiana state pension funda and several consumer groups had not proven that the courtg neededto intervene. As part of the deal, Fiat will contributde its technology, platforms and powertrains for small- and medium-size cars, allowing the compan to offer an expandee product line that includes environmentally friendly Chrysler will also gain access to Fiat's international distribution network, with particular focus on Latin America and Russia. Fiat CEO Sergi o Marchionne has been named CEO of thenew Chrysler.
"We now look forward to establishingh a new paradigm for how automotives companies can operate profitablygoing forward," he said in a news Under the terms approved by the U.S. Bankruptcty Court in New York and variousregulatory agencies, the company formerly knowhn as sold substantially all of its assets, without certai debts and liabilities, to a new company that will operate as Chrysled Group LLC.
Chrysler Group, in turn, issued to a subsidiar y of Fiat a 20 percent equity interest on a fullg diluted basis in the new Fiat has also entered into a series of agreements necessary to transfercertain technology, platforms and powertrains to the new Fiat's equity interest will increase in increments up to a total of 35 percentg in the event that certain milestones mandated by the agreement are But Fiat cannot obtain a majority stake in Chrysled until all taxpayer funds are repaid.
The Uniteds Auto Workers' Retiree Medical Benefits Trust, a voluntaryg employees' beneficiary association trust, has been issued an equith interest in Chrysler Group equal to 55 percengt on a fully diluted basis. The and the Canadian government have been issue an equity interest equal to 8 percent and 2 perceny on a fullydiluted respectively. The new Chrysler will be managed bya nine-member boarcd of directors, three of whom will be named by four to be appointed by the U.S. one named by the Canadian government and one appointes by the UnitedAuto Workers' Retiree Medical Benefit Trust. C.
Robert Kiddet is expected to benamed