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Chrysler adds Bank of America Merrill Lynch to help run IPO
November 4, 2013 / 6:00 PM / 4 years ago

Chrysler adds Bank of America Merrill Lynch to help run IPO

NEW YORK (Reuters) - Chrysler Group LLC FIA.MC tapped Bank of America Merrill Lynch (BAC.N) to help lead the U.S. automaker’s initial public offering along with JPMorgan Chase & Co (JPM.N), a person familiar with the matter said.

The IPO could price in December, the person said on Monday, declining to be named because the information is private.

Chrysler declined to comment on the news, which was first reported by the Wall Street Journal.

Chrysler, which is majority owned by Italian automaker Fiat SpA FIA.MI, filed paperwork for an IPO in late September after Fiat was unable to reach a buyout deal with Chrysler’s second-largest shareholder, a retiree healthcare trust affiliated with the United Auto Workers union.

Sergio Marchionne, chief executive of both Chrysler and Fiat, said last week that he is working “diligently” to prepare for a possible IPO by the end of 2013.

Reporting by Soyoung Kim; editing by Andrew Hay

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