DETROIT, Sept 23 Chrysler Group LLC filed
paperwork on Monday for an initial public offering of up to $100
million, an action that could slow majority owner Fiat SpA's
plans to take full ownership of the U.S. automaker.
The offering will be underwritten by J.P. Morgan, the
company said in a securities filing posted more than four years
after the third-largest U.S. automaker emerged from a
government-sponsored bankruptcy under Fiat management.
The size of the offering was not mentioned in the filing
papers, and Chrysler officials did not comment on the figure.
Chrysler's minority shareholder, the United Auto Workers
retiree healthcare trust fund, decided in January to sell part
of its 41.5 percent stake in the company in an IPO.
Sergio Marchionne, chief executive of both Chrysler and
Fiat, said in mid-September that the IPO is likely to take place
in the first quarter of 2014.
Marchionne and the UAW trust, a voluntary employee
beneficiary association, or VEBA, have been at odds over the
value of Chrysler. Their inability to agree on a price for the
VEBA stake led to Monday's IPO filing.