Fiat gets approval to acquire Chrysler
July 26th, 2009 Leave a comment Visited 62 times, 1 so far today
Fiat gets approval to acquire Chrysler
The European Commission has given its approval to Fiat to acquire Chrysler.
EU said in a statement that they are confident that the deal would not hurt competition in the European markets.
European Commission added in a statement: “The Commission’s examination of the transaction showed that the horizontal overlaps between the activities of Chrysler and Fiat are limited. As Chrysler is not present on the upstream markets concerned, the transaction would not strengthen the market position of the merged entity or the extent of its vertical integration.”
Chrysler has been struggling for some time now. The US based automaker filed for bankruptcy earlier this year.
Fiat had acquired a 20% stake in the company.
Automobiles, Cars, Chrysler, europe, European Commission, European Union, Fiat, Italy, USA
Sukhdeep Verma
Category: Automobiles
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