As Chrysler looks to sell most of its assets for $2 billion out of bankruptcy to a new company, the Auburn Hills automaker said that it did not receive an offer for its Dodge Viper business, which it priced at $10 million.
CEO Bob Nardelli said in a U.S. bankruptcy Court filing in New York that the lack of bidders for the Detroit factory showed limited value of the brands automotive assets in a liquidation. Viper is not among the assets that will be sold to Fiat SpA in the new company that will come out of the bankruptcy filing.
Chrysler has been looking to sell Viper since August of 2008.
It said that it received an offer for $5.5 million by Devon Motors Works to buy the Viper business and lease the Detroit plant for a year. According to the bankruptcy filing documents, Chrysler is looking to verify that Devon Motor Works has access to financing.
– By: Omar Rana
Source: Free Press