Banks seen to block Chrysler-Fiat partnership (Dealscape

The fate of Chrysler LLC's partnership with Italy's Fiat SpA is being held up by a group of lenders who have rejected initial proposals to swap much of the U.S. automaker's nearly $7 billion in debt for equity.

The lenders, which according to a Wall Street Journal report, include J.P. Morgan Chase & Co., Goldman Sachs Group Inc., Citigroup Inc. and Morgan Stanley, are negotiating concessions aimed at keeping Cerberus Capital Management LP-owned Chrysler out of bankruptcy. Chrysler has until the end of April to finalize an alliance with Fiat or risk being cut off from government loans needed to finance its restructuring.

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NOT A SUBSCRIBER? Banks seen to block Chrysler-Fiat partnership Posted on April 6, 2009 3:30 PM The fate of Chrysler LLC's partnership with Italy's Fiat SpA is being held up by a group of lenders who have rejected initial proposals to swap much of the U.S. automaker's nearly $7 billion in debt for equity. The lenders, which according to a Wall Street Journal report, include J.P. Morgan Chase & Co., Goldman Sachs Group Inc., Citigroup Inc. and Morgan Stanley, are negotiating concessions aimed at keeping Cerberus Capital Management LP-owned Chrysler out of bankruptcy. Chrysler has until the end of April to finalize an alliance with Fiat or risk being cut off from government loans needed to finance its restructuring. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 419 articles related to Fiat SpA 245 articles related to Chrysler LLC 178 in-depth reports of M&A deals in the Automotive sector 14 company pages related to Chrysler 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Skadden Arps Amusement parks Deb Shops Windstream Corp. Diedrich Coffee Hanna Andersson Tween Brands Entertainment Lazard Lyondell Chemical		EXISTING USERS Username Password Forget your password? Missing a product?

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