TURIN, Italy (Reuters) - Italian carmaker Fiat FIA.MI Chief Executive Sergio Marchionne said on Friday that its U.S. unit Chrysler’s initial public offering in New York could take place in the first quarter of 2014.
Chrysler’s minority shareholder, a union-affiliated healthcare trust, VEBA, decided in January of this year to sell part of its Chrysler stake in a public offering.
Fiat owns 58.5 percent of Chrysler and wants to buy the remaining stake, held by VEBA.
Marchionne said on Friday he did not believe that Fiat’s and VEBA’s positions on the buyout were getting any nearer.
Asked why he canceled an appearance at the Frankfurt car show this week, he said it was because he had other commitments.
Reporting by Stefano Rebaudo, writing by Jennifer Clark