The Canadian PressOctober 30, 2013 07:23
DETROIT - On the heels of a profitable third quarter, Chrysler Group said it will proceed with a public offering of shares before the end of this year.
Italy's Fiat SpA owns the majority of Chrysler shares. Sergio Marchionne, who runs both companies, wants to combine them by purchasing the 41.5 per cent of Chrysler now controlled by a United Auto Workers-run trust.
The two sides disagree on the value of the trust's shares, and on a conference call Wednesday, the CEO said the two sides still haven't reached a deal.
"We are now bent on executing the IPO," he said.