Chrysler Group Reluctantly Prepares For IPO

AUBURN HILLS (WWJ/AP) – Chrysler Group is reluctantly preparing for an initial public offering of some of its shares.

The automaker is proceeding with the IPO, after it failed to reach an agreement on the value of the stock with the retiree trust that owns it.

WWJ AutoBeat Reporter Jeff Gilbert explains that the offering does not ensure that there will be an IPO but it does start the process if one is necessary.

J.P. Morgan Securities would manage any offering.

Chrysler exited the U.S. public market 15 years ago, when Daimler acquired it.

The Auburn Hills-based automaker is now majority owned by Italian automaker Fiat.

(TM and © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2013 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)


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