On 24 July 2009, the Commission approved the acquisition of Chrysler Group LLC by Fiat. On 30 April 2009 Chrysler filed for protection from its creditors under Chapter 11 of the US Bankruptcy Code and announced plans for a global strategic alliance with Fiat. On 10 June 2009, after a judicial procedure, the company formerly known as Chrysler LLC sold substantially all of its assets, without certain debts and liabilities, to a new company that will operate as Chrysler Group LLC. Fiat has acquired an initial 20% equity interest in Chrysler and entered into a number of agreements with the company to provide it with access to certain Fiat technology, platforms and power trains. Despite only owning 20% in Chrysler, which it may increase in future, Fiat holds rights in the decision-making process of Chrysler that will enable it to exercise sole control over Chrysler.
The Commission found that there are only limited horizontal overlaps between the activities of Chrysler and Fiat. The merger would therefore not significantly change the competitive structure of the markets for the manufacture and supply of passenger cars. Fiat is present on a number of markets such as automotive lighting and transmission systems that are purchased by manufacturers of passenger cars. The Commission found that these vertical links would not lead to competition concerns.