Fiat S.p.A. today announced that the Board of Directors of Chrysler Group LLC (“Chrysler Group”), having consulted with the prospective underwriters for Chrysler Group’s initial public offering and counsel, has determined that it will not be practicable for Chrysler Group to launch and complete an initial public offering prior to the end of 2013.
Fiat remains supportive of Chrysler Group’s efforts to meet its contractual obligations to the VEBA1, and expects Chrysler Group to continue working on the necessary steps to enable an initial public offering to be launched in the first quarter of 2014. No assurance can be given as to whether or when an offering will be launched as any launch will be subject to market conditions and other relevant considerations.
