Monday, June 8, 2009

Sale of Chrysler On Hold

Hang on to your passports, the US Supreme Court is delaying the sale of Chrysler to the Fiat group. However, three Indiana state pension and construction funds say no way and pursued halting of the sale.
Fiat would control 20% of Chrysler, while 68% would be owned by a union trust, and the two governments would share 12%.
However, the pension funds, which hold about $42m (£26.3m) of Chrysler's $6.9bn in secured loans, are opposed to the sale. via all the news