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  • William Maley
    William Maley

    By William Maley •

    Fiat Pushes Chrysler IPO To 2014

    William Maley

    Staff Writer - CheersandGears.com

    November 25, 2013

    The Chrysler IPO will not happen this year. Forbes is reporting that Fiat has decided to not to launch the initial public offering of Chrysler before the end of 2013, citing that the short window before the end of 2013 is "not practicable."

    Not surprisingly, the hold up on the IPO is the disagreement between Fiat and the UAW's healthcare trust. Fiat currently owns 58.5 percent of Chrysler, while the trust owns the remaining 41.5 percent. The company wants to buy the trust's share, but for how much is what the two cannot come to an agreement.

    The IPO was going to be the way of figuring out how much the UAW's healthcare trust share was. It's not entirely clear why Fiat decided to put the IPO on hold till next year. A possibility could be that advisers working for Chrysler are discussing a valuation of about $10 to $11 billion for the IPO. Given that amount, it would mean Fiat would be paying $4.15 billion for the share owned by the healthcare trust, a figure that considered to be much higher than what Fiat is looking to pay.

    Source: Forbes, Detroit Free Press

    William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster.

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