AP) Italian automaker Fiat Group SpA will sign paperwork to become a partner with Chrysler LLC by Thursday, according to three people briefed on the deal.The partnership is the last piece of a huge restructuring plan needed to keep Chrysler alive as it approaches Thursday’s government deadline to cut labor costs, slash debt and take on a partner.
The people said Wednesday that despite the partnership, Chrysler could still wind up under Chapter 11 bankruptcy protection for a short time if some creditors don’t agree to reduce their debt. But they said the government would agree to finance the restructuring rather than cut off Chrysler’s aid and leave it destined for liquidation.
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