MILAN Jan 30 Fiat Chief Executive
Sergio Marchionne said the Italian automaker is open to an
initial public offering of a stake in its U.S. unit Chrysler,
adding "the faster we do it, the better it is."
"It's up to them," he said, referring to Chrysler's minority
owner, a United Auto Workers union retiree healthcare trust
VEBA demanded that Chrysler register 16.6 percent of company
shares with the U.S. Securities and Exchange Commission earlier
The United Auto Workers union is keen to see Chrysler hold
an IPO, vice president and director General Holiefield told
Reuters in a recent interview.
"I would love to see Chrysler go public again," he said. "I
think the company is on its way to being one of the most solid
companies in the world."
The trust has the right to make the demand because of the
2009 agreement that brought Chrysler out of bankruptcy and left
Fiat as part-owner.
Marchionne said Fiat does not plan to make any asset sales
to fund the purchase. But he did not rule them out.