Detroit - Chrysler LLC’s planned asset sale to a group led by Italy’s Fiat S.p.A was delayed by Ginsburg while the U.S. Supreme Court considers a request for a longer adjournment that might shatter the deal.
Chrysler said that the sale is necessary to stop losses of $100 million a day. The sale - would transfer its Jeep, Chrysler and Dodge brands. The deal would also save over 38,000 jobs.
Who is Fiat S.p.A?
Fiat Group is the largest vehicle manufacturer in Italy, with a range of cars starting from small Fiat city cars to sports cars made by Ferrari,vans,trucks and commercial trucks. The Fiat Group Automobiles S.p.A, the Fiat Group automotive companies include Ferrari S.p.A., Iveco S.p.A. and Maserati S.p.A. The Fiat Group Automobiles S.p.A. companies include: Abarth & C. S.p.A., Alfa Romeo Automobiles S.p.A., Fiat Professional and Lancia Automobiles S.p.A.. Ferrari S.p.A. is 85% owned by the Fiat Group.
(The AP contributed to this)
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