Fiat: Chrysler Not Going Ahead With IPO in 2013

Chrysler is deciding not to finish their plans with an IPO in 2013. Marchionne, the CEO of both companies, has previously stated that it would be an issue for the two companies merging if they went through with an IPO, so it seems to be an unusual decision. Nevertheless, there isn’t much belief that there will ever be an IPO. Chrysler has struggled to stay afloat even with the extra help from government as well as Fiat. Even though there probably isn’t going to be an IPO, the fact that the process has continuously been delayed just means that Fiat is going to have to wait longer before working out a deal. The Italian car manufacturer has been running the show, based on a deal with the U.S. government. Despite the opposition, Chrysler is hopeful that they will make $1.5 to $2 billion in revenue from the IPO. One of the largest shareholders of the company is the Union of United Auto Workers, a government entity. The controversy, which was caused by the bailouts, is only hurting the possibility of the company reclaiming their fame. However, it’s been noted that Fiat’s sales are kind of tanking where Chrysler has actually been regaining popularity.

For more details on the article Click Here

Want to see which Automotive jobs are available near you? Click here to see.