Saturday, February 13, 2016
Current Weather
Loading Current Weather....
Published: Saturday, 9/21/2013 - Updated: 2 years ago

Fiat SpA enlists Bloom to advise on acquisition

DETROIT — Fiat SpA has retained Ron Bloom, a key architect of its 2009 takeover of Chrysler, to advise it on how to buy the portion of Chrysler Group now held by a United Auto Workers health care trust, according to a source familiar with the matter.

Mr. Bloom was second-in-command on President Obama’s auto task force that oversaw the 2009 taxpayer-funded bankruptcies of Chrysler and General Motors. He is now vice chairman of Lazard, a global investment firm.

His mission for Fiat CEO Sergio Marchionne: Find the least expensive way to acquire the 41.5 percent Chrysler share held by the UAW’s Voluntary Employee Beneficiary Association, responsible for health care coverage for about 63,000 retired Chrysler union members.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories