According to people familiar with the matter, as the U.S. automaker looks to launch the deal as soon as early December, Chrysler has added four banks to help underwrite its proposed initial public offering.
The people said Barclays Plc, Goldman Sachs Group, Morgan Stanley and UBS AG have been appointed as book runners in the offering, which is being led by JPMorgan Chase & Co and Bank of America Merrill Lynch.
The IPO could price in December, the people said, declining to be identified because the information is private. 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.
While the IPO could happen within weeks, analysts have said that the healthcare trust and Fiat will come to terms on a buyout before the first shares are sold. Sergio Marchionne, chief executive of both Fiat and Chrysler, has said he wants to merge the two companies to create the world’s seventh-largest carmaker.
Chrysler is now a profit center for Fiat, which has been hurt by the sagging sales for automobiles in Europe while Chrysler’s home North American market has seen sales rise nearly 50 % since 2009.