Sergio Marchionne, chief executive of Fiat SpA and Chrysler Group LLC, said he hasn’t made any decision about where the combined automaker will be headquartered.“The item is not on my agenda for now. Secondly, we’ve been clear and consistent on this: That this will be governed by a variety of justifications including access to capital markets and the ability to finance the house, which is the consistent view,” Marchionne said Thursday night in a Detroit News interview after he was honored at the Sons of Italy gala here. “There’s been no decision — it’s not even on my digestible list of things to do for the week.”
The Obama administration tapped Fiat in 2009 to run Chrysler after the Auburn Hills automaker was rescued as part of a $12.5 billion federal bailout and restructured through bankruptcy. Fiat initially received a 20 percent stake in Chrysler and won 15 percentage points for meeting three targets; it has since increased its stake in Chrysler to 58.5 percent. Fiat is in court sparring with the United Auro Workers health care trust fund over the value of the trust’s stake. Fiat wants to acquire the trust’s remaining 41.5 percent stake and could launch an IPO.
Read Article