Mergers & Acquisitions, Fiat | featured news

The Supreme Court on Tuesday cleared the way for the U.S. government-backed sale of Chrysler LLC to a group led by Italian carmaker Fiat SpA, a victory for the bankrupt automaker and the Obama administration.

Italian carmaker says it won't walk away despite opposition to its deal from a small number of creditors.

Chrysler’s sale to Fiat is on hold until Monday while Indiana’s pension funds appeal to the Supreme Court.

Approval of sale of assets to Fiat clears way for U.S. automaker to exit bankruptcy protection.

Robert Nardelli, Chrysler's departing chairman and chief executive, said he expects the sale of the bulk of Chrysler's assets to a group headed by Italy's Fiat Group SpA to close Friday, assuming the judge overseeing the automaker's bankruptcy protection case approves the deal.

The Italian carmaker that just took over Chrysler is in talks to buy GM's European operations.

Union concessions moves the deal between the U.S. and Italian automakers closer to reality.

The Obama administration remains focused on bringing Chrysler and Fiat into a working partnership, a U.S. official said on Thursday, dismissing a news report that the U.S. car-maker faced imminent bankruptcy.

The struggling American auto maker Chrysler, owned by the private equity firm Cerberus Capital Management, signed an agreement with Fiat on Tuesday that would give the Italian car maker a 35% stake in the company.