Chrysler adds Bank of America Merrill Lynch to help run IPO
NEW YORK, Nov 4 (Reuters) - Chrysler Group LLC
tapped Bank of America Merrill Lynch to help lead the
U.S. automaker's initial public offering along with JPMorgan
Chase & Co (Symbol : JPM), 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, 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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