Even as the U.S. Bankruptcy Court continues to hear objections to the sale of Chrysler’s assets to a new company led by Fiat, the UAW and the federal government, Chrysler’s CEO expects the sale to be finalized as early as Friday. Automotive News reports:
Chrysler expects to close its sale of most assets to Fiat as early as Friday, CEO Robert Nardelli told the bankruptcy court considering whether to approve the transaction.
The automaker seeks approval to sell its stronger operations to a “New Chrysler” owned by Italy’s Fiat S.p.A., labor unions and the U.S. and Canadian governments, in exchange for $2 billion paid to lenders.
Nardelli’s statement came in response to question by an attorney for the Indiana state pension fund, which is trying to block the deal.