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Chrysler IPO expected soon

Fiat-Chrysler chief executive Sergio Marchionne gestures during the official presentation of the new Fiat 500L car in downtown Turin July 3,
Fiat-Chrysler chief executive Sergio Marchionne gestures during the official presentation of the new Fiat 500L car in downtown Turin July 3,

AUBURN HILLS (WKZO) -- Chrysler is getting ready for an initial public offering.  CEO Sergio Marchionne expects the automaker to file documents with the Securities and Exchange Commission in the next two weeks.

Chrysler is currently owned by Fiat and the UAW’s Retiree Medical Benefits Trust, with Fiat controlling 58.5-percent of the company.  The two sides have been fighting over ownership in court, with Fiat offering recently to purchase nearly another ten-percent of the company recently and the trust rejecting the offer.

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