The planned stock market listing of Fiat's (MIL:F) U.S. unit Chrysler will not take place this year, the Italian carmaker said on Monday, prolonging the uncertainty over its chances of buying out the rest of the company. The initial public offering was expected to help settle a long-running spat over the U.S. automaker's value between Fiat and a retiree healthcare trust tied to the United Auto Workers union, which owns 41.5 percent of Chrysler. The delay represented yet another obstacle to Chief Executive Officer Sergio Marchionne's plan for the Fiat-Chrysler alliance, one of the centerpieces of the Obama administration's 2009 restructuring of the U.S. auto industry. Chrysler's board of directors "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 said in a statement.
via Business News - Yahoo Finance http://finance.yahoo.com/news/chrysler-wont-ahead-ipo-2013-001809955.html
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