Results for: fiat spa
Chrysler LLC's tentative agreement with some of its largest creditors may have helped it clear a significant hurdle in the race to avoid bankruptcy. But big obstacles remain. The automaker is reportedly close to a debt-for-equity deal in which lenders would write off a majority of Chrysler's $6.8 billion debt in exchange for a less than 10% stake. (Deal Pipeline subscribers can find the details here.)
In this edition of Inside the Deal, bankruptcy attorney Sandra Mayerson says holdouts in the lender group may remain, and she's not convinced they will agree to the deal terms, which are a long way from what creditors had proposed. There's also a possibility, says Mayerson, a partner with Squires, Sanders & Dempsey LLC, that a planned partnership with Fiat SpA could collapse. Chrysler faces a Government-imposed Thursday deadline to finalize the Fiat alliance or be cutoff from further public assistance. See the video below or download it at iTunes.
Jones Day's Jere Thomson recounts the 30-days in spring it took to close Chrysler Group LLC's whirlwind marriage to Fiat SpA.
Italian car maker, Fiat SpA, is investing 1.8 billion US dollars into a new factory in the north-east of Brazil.
The manufacturer - which holds a larger share of the Brazilian car market than any other European brand - has completed a deal to begin work next year on a new plant in the city of Pernambuco.
The factory's capacity will allow it to build 200,000 cars annually by 2014, and will also be Fiat's research and development headquarters on the continent.
The plant will also create a surge in demand for steel and the eucalyptus charcoal that is increasing being used to power such plants.