Regions

Trial for Fiat's fight over Chrysler to start by 2015

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September 5
5:55 PM 2013

Fiat SpA would have to wait until 2015 before a judge would decide if it had been responsible in paying a buyout minority stake. This was according to data shown in court filings.

According to a Delaware judge, a reasonable time should be allowed to have the court prepare for the trial. It would then decide how much Fiat had to pay to be able to acquire a part of the 41.5% of Chrysler stake held by United Auto Workers healthcare trust. This was shown in a regulatory filing by the trust with the US Securities and Exchange Commission.

The UAW became Chrysler's second biggest shareholder. This was after when Chrysler emerged from bankruptcy last 2009. The union had swapped future healthcare payments owed to it by the company for a stake.

Meanwhile, Fiat had expected to acquire the stake. After which, Fiat planned to merge the two manufacturers and create the world's seventh biggest auto group by sales.

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