Fiat has hired Ron Bloom, a key architect of its 2009 takeover of Chrysler, as an advisor for buying the remaining stake in Chrysler, Detroit Free Press reported, citing a source familiar with the matter.
Bloom’s job is find the least expensive way to acquire the 41.5% Chrysler shares held by the UAW’s Voluntary Employee Beneficiary Association, which is responsible for health care coverage for about 63,000 retired Chrysler union members, according to news report.
Bloom was second in command on President Barack Obama’s auto task force that oversaw the 2009 taxpayer-funded bankruptcies of Chrysler and General Motors. He also is advising a committee representing retired Detroit workers in the city’s Chapter 9 bankruptcy.
Bloom is now vice chairman of Lazard, a global investment firm.
Source: Detroit Free Press
