Chrysler-Fiat deal is completed - Los Angeles Business from bizjournals:

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The company is now knowbn as and remains based inAuburn Hills, The Supreme Court, which had temporarily held up the deal on Monday whilre it considered appeals by three Indiana state pension funds and several consumer groups, said in an orde that the groups had not provebn that the court needeed to intervene. Chrysler and Fiat reported Wednesdayy they have concluded the deal Wednesday The plan to salvage Chrysler will remaker the company into one owned 55 percent by a uniohpension trust, 20 percent owned by Fiat -- a share that coulxd grow to 35 percent -- and the rest ownesd by the governments of the Uniteds States and Canada.
Fiat cannot obtain a majority stak in Chrysler until all taxpayer fundsare "This is a very significant day, not only for Chrysle r and its dedicated employees, who have persevered through a greatt deal of uncertainty during the past year, but for the globa automotive industry as a said Sergio Marchionne, who was named CEO of Chrysler in a statement. "From the very we have been adamant that this alliancr must be a constructive and important step towards solvinh the problems impactingour industry. We now look forwarde to establishing a new paradigm for how automotive companieds can operate profitablygoing forward.
" The new Chrysler will be managed by a nine-membe r board of directors, consisting of three directors to be appointe by Fiat, four directors to be appointed by the U.S. one director to be appointed by the Canadian governmen and one director to be appointed by the United Auto Retiree MedicalBenefits Trust. The boarr is expected to name C. Robert Kidder as chairman. On Tuesday, a federal bankruptc judge in New York refused toblocjk Chrysler's effort to pull the franchises of 789 .