Chrysler Group LLC was forced to file paperwork for an IPO by its second-biggest shareholder yesterday, escalating a spat with main owner Fiat SpA which said it could scale back its commitment to the U.S. automaker, Reuters reported yesterday. Fiat, which owns 58.5 percent of Chrysler, wants to take full control and buy out the rest of the stock owned by the United Auto Workers trust fund, but has balked at the more $5 billion being demanded. In response, the UAW trust exercised a right enshrined in Chrysler's 2009 government-financed bankruptcy to go forward with an initial public offering, stepping up pressure on Sergio Marchionne, chief executive of both automakers, to reach a deal.
