U.S. automaker Chrysler files for IPO as UAW trust cashes out
DETROIT, Sept 23 (Reuters) - Chrysler Group LLC on Monday filed paperwork for an initial public offering, an action that could slow majority owner Fiat's plans to take full ownership of the U.S. automaker.
The offering will be underwritten by J.P. Morgan, the company said in a securities filing posted on Monday.
Chrysler's minority shareholder, the United Auto Workers retiree healthcare trust fund, decided in January to sell part of its 41.5 percent stake in the company in an IPO.
Sergio Marchionne, chief executive of both Chrysler and Fiat, said in mid-September that the IPO is likely to take place in the first quarter of 2014.