CHRYSLER Group has added four banks to help underwrite its proposed initial public offering (IPO), as the US carmaker looks to launch the deal as soon as early December, according to people familiar with the matter.
Barclays, Goldman Sachs, Morgan Stanley and UBS have been appointed as bookrunners in the offering, which is being led by JPMorgan Chase & Co and Bank of America Merrill Lynch, the people said last night.
The IPO could price in December, the people said, declining to be identified because the information is private.
Chrysler declined to comment. Representatives for the banks either declined to comment or did not respond to requests for comment.
Chrysler, which is majority owned by Italian automaker Fiat SpA, filed paperwork for an IPO in late September after Fiat was unable to reach a buyout deal with Chrysler’s second-largest shareholder, a retiree healthcare trust affiliated with the United Auto Workers union.
City A.M. Reporter