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Done Deal: Fiat Buys Chrysler Assets

Administration triumphs as bankruptcy effectively ends

By Matt Cantor, Newser Staff

Posted Jun 10, 2009 10:31 AM CDT

(Newser) – Chrysler finalized its sale of assets to Fiat with a government wire transfer this morning that gave Chrysler $6.6 billion in funds to exit bankruptcy, the New York Times reports. The sale is good news for the Obama administration, which sought an “efficient” restructuring for Chrysler. It may also provide a glimpse into the future of General Motors, also navigating bankruptcy.

An empty showroom is seen at a Chrysler dealership in Colma, Calif., that closed yesterday. (AP Photo)

A sign is posted at a Chrysler dealership in Colma, Calif., that closed yesterday. (AP Photo)

The Fiat-Chrysler alliance is on course toward becoming a "competitive, viable automaker," a Treasury official says. (AP Photo)

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Done Deal: Fiat Buys Chrysler Assets

Administration triumphs as bankruptcy effectively ends

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Saab Declares Bankruptcy

GM vetoes deal involving Chinese company

Car Sales Jumped 14% Last Month

Chrysler, VW saw huge gains

New US Fuel Standards: 54.5 MPG by 2025

Obama hails new goal with automakers

Obama Should Campaign on Auto Bailout

Some Republicans were ready to let GM, Chrysler die: Jonathan Cohn

Chrysler Turns 1st Profit Since Bankruptcy

Revenue climbs 35% as Big Three return to profitablility

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Done Deal: Fiat Buys Chrysler Assets

Administration triumphs as bankruptcy effectively ends

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OTHER STORIES ON OUR RADAR

Chrysler • bankruptcy • General Motors • Detroit • automaker • auto industry • Big Three • wire transfer • Fiat • Obama administration

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Saab Declares Bankruptcy

GM vetoes deal involving Chinese company

Car Sales Jumped 14% Last Month

Chrysler, VW saw huge gains

New US Fuel Standards: 54.5 MPG by 2025

Obama hails new goal with automakers

Obama Should Campaign on Auto Bailout

Some Republicans were ready to let GM, Chrysler die: Jonathan Cohn

Chrysler Turns 1st Profit Since Bankruptcy

Revenue climbs 35% as Big Three return to profitablility

About Us

Site

Newser By Users

Community

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