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Fiat seeking $10B in financing to buy Chrysler

As Fiat looks to become the full owner of Chrysler, all it has standing in its way is the retiree trust of the United Auto Workers, which currently holds the remaining 41.5 percent of the company as the result of the Pentastar's bankruptcy deal. The Detroit News is reporting that that Fiat is currently talking to numerous banks in an attempt to raise around $10 billion to fund the purchase of Chrysler's remaining stake with enough left over to refinance the debt of both companies. We've known that Fiat has been working to obtain the capital to buy out Chrysler for some time now, but this is the first time we've seen Fiat tip its hand about how much cash it thinks it will need to close the deal.
The first order of business is a legal dispute over the value of the UAW's stake in Chrysler, which the report indicates could cost Fiat around $3.5 billion. The acquisition of remaining shares could happen by this summer, but it sounds like CEO Sergio Marchionne (above) might not be ready for a full merger until next year.

2015 Chrysler 200 sheds its frumpy past, V6 comes with AWD standard

The 2015 200 is the automotive equivalent of an ugly duckling turning into a swan.
In 2004, Chrysler's fullsize offerings were the lamentable Concorde and 300M - a pair of bloated, plasticky barges that hadn't received significant attention since before the dawn of the new millennium. Then, seemingly out of nowhere, Chrysler unveiled its new 300, which rode on the bones of a Mercedes-Benz E-Class and had the look of a Rolls-Royce with a thug-life upbringing. It was cool.

Fiat's Marchionne ponders Chrysler going public again

Fiat boss Sergio Marchionne says there's a real possibility that its majority-owned Chrysler Group may eventually return to the ranks of publicly traded companies. According to Bloomberg, the Fiat and Chrysler CEO gives that a "50 percent chance" of happening, but he doesn't appear to favor that scenario: "My preference is to be one single company... we belong together."
Marchionne has seemingly been operating under the assumption that Fiat will eventually own all of Chrysler, working to buy up the shares it doesn't own and looking to buy out the retiree trust fund that it shares Chrysler ownership with. Certainly, Chrysler going independent again would be increasingly difficult, as the companies continue to blend products, technologies, facilities and staffing, a trend started immediately after the Italian automaker became custodian of the brand following Chrysler's bankruptcy in 2009.
Marchionne's remarks to the media came at Chrysler's Kokomo, Indiana plant, where he was on hand to announce a major investment at four facilities in the state to build eight- and nine-speed automatic transmissions.