Marchionne: Chrysler IPO is inevitable but unlikely in 2012

Sergio Marchionne - CEO, Chrysler Group LLC & Fiat

A conference regarding whether Chrysler and Fiat S.p.A. will offer an IPO for the Auburn Hills make took place today in northern Michigan.

There has been growing speculation as to whether Chrysler will attempt to return to public ownership by the end of this year. But since Fiat S.p.A. has increased their stake significantly in Chrysler AG, the partnership relieved some of the urgency to make Chrysler a publicly owned company once again.

Fiat’s CEO Sergio Marchionne said at this conference however that a Chrysler IPO is an inevitable outcome. As for when is unknown as Chrysler still needs to work with the United Auto Workers union and their Voluntary Employee Benefit Association, which as it still stands, owns 45.7% of Chrysler.

– By: Chris Chin

Source: AutoObserver