JPMorgan (JPM), the US investment bank advising on the future of Chrysler, will formally kick off a £7 billion (roughly $13 billion) auction by sending information memorandums to a number of potential suitors as early as this week, The Times has learned.
The bank is to release data that include private information on Chrysler, such as figures on its current trading.
General Motors (GM) is already in preliminary talks with DaimlerChrysler about an acquisition of all or part of Chrysler but is particularly interested in its Jeep and Dodge marques.
It is also thought that Hyundai, the Korean car manufacturer, is interested in joining potential bidders. Hyundai is said to be interested in securing access to Chrysler’s lucrative dealer network....