BUSINESS
03/15/2009 05:12 am ET Updated May 25, 2011

Chrysler Faced With Equity Carve-Up Divided Between Government, UAW, Fiat And Bank Lenders

Chrysler's restructuring plan could see the combined equity of owners Cerberus and Daimler shrink to less than 10 per cent, with the rest of the company divided between the US government, the United Auto Workers' union, bank lenders and Italian carmaker Fiat, according to people close to the US carmaker.

Chrysler and General Motors, which have been granted a combined $17.4bn in government loans, must present restructuring plans to the Obama administration by February 17 in order to retain that financing.

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