Sunday, May 3, 2009

Chrysler expected to sell assets to Fiat

Chrysler is expected to file a motion Saturday to sell substantially all of its assets to Italian automaker Fiat Group, but the ailing automaker must still deal with creditors who refused to come to a deal to erase the company's debt.

Attorneys for Chrysler say eight plants will not be affected by the sale, including five that the automaker revealed it will shutter by the end of next year.

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