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17 June 2009

Asters Acted as Ukrainian Legal Counsel in the Merger of the Italian Automaker Fiat with American Automotive Concern Chrysler


Asters rendered legal advice on Ukrainian merger control law issues, including obtaining merger clearance from the Antimonopoly Committee of Ukraine (AMC) in connection with the merger of the powerful automotive concerns Fiat S.p.A and Chrysler LLC whereby Fiat S.p.A acquired control over the automotive business of Chrysler LLC. The transaction on the formation of the global strategic alliance was closed on 10 June 2009.

Fiat Group is a global company in the automotive industry which is engaged in producing and selling trucks, automobiles, agricultural and construction equipment, components and production systems. The company also provides financial services in the automotive sector.

Chrysler Group is engaged in activity related to designing, manufacturing, distributing and selling a wide range of automotive products – mainly full-size, mid-size and compact cars, minivans, SUVs, as well as parts and accessories. It also provides customized financing, leasing, insurance and fleet-management services for retail and commercial customers throughout the world.

The transaction precipitated by the difficult financial situation of the American automotive giant Chrysler due to the economic recession. As stated by management of the companies, the merger is supposed to enhance viability of the automobile business of Chrysler and enable both automobile producers to fully optimize their respective production capacities and inventory of components suppliers.

The filing with the AMC was handled by associates Tetyana Buchko, Tetyana Vovk and Maryna Kovalko under the supervision of partner Igor Svechkar.


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