TIMELINE - Chrysler bankruptcy and beyond
Reuters - Italian car maker Fiat SpA closed its takeover of Chrysler on Wednesday in an ambitious move to survive and grow out of one of the worst crises in global auto industry.
Following are key developments at Chrysler since U.S. private equity firm Cerberus Capital Management bought a controlling stake in 2007:
May 2007 - Germany's Daimler AG agrees to sell 80.1 percent of Chrysler to Cerberus for $7.4 billion, keeping 19.9 percent.
Jan. 2, 2009 - Chrysler receives an initial $4 billion emergency government loan.
Jan. 20 - Italy's Fiat unveils a preliminary deal to take a 35 percent stake in Chrysler in exchange for access to its technology and overseas markets.
March 30 - The Obama administration's autos task force rejects Chrysler's restructuring plan and warns it may be put through bankruptcy to reduce its debts. It gives Chrysler 30 days to complete an alliance with Fiat or risk being cut off from further government funding.
April 13 - Chrysler and Fiat discuss a new management and board for the U.S. automaker.
April 21 - The U.S. says it will make about $500 million available to Chrysler through the end of April.
April 28 - Daimler reaches a deal to exit Chrysler completely. Continued...
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