Fiat puts off Chrysler IPO

Nov 25, 2013, 1:05 PM EST
chrysler-badge
REUTERS/Joe Skipper

Italian carmaker Fiat says a planned initial public offering of its U.S. unit Chrysler will not take place this year, prolonging the uncertainty over whether it can reach a deal to buy the stake in the group it does not already own. A United Auto Workers trust cannot agree on a valuation with Fiat of the UAW fund’s 41.5% stake in Chrysler as it evaluates selling its shareholding directly to Fiat against going ahead with an IPO.

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