Supreme Court allows sale of Chrysler to Fiat

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The Supreme Court has approved the sale of substantially all of Chrysler's assets to Fiat, helping to finalize the two automaker’s alliance as well as the American automaker’s bankruptcy proceedings. Approval was given for the $2 billion sale of the assets to a new company that will be 68% controlled by a healthcare trust aligned with the United Auto Workers (UAW) union. Fiat will control 20%, while the U.S. and Canadian governments will control the remaining 12%.Objectors to the deal had included a group of Indiana pension funds holding secured debt, some of the 789 dealerships Chrysler plans to reject, and consumer groups.





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