24/07/2009 (Agence Europe) - On Friday 24 July, the European Commission authorised the acquisition of US car maker Chrysler Corp LLC by Fiat S.p.A. (Italy). Chrysler, which filed a request for protection against its creditors (American “Chapter II”) on 30 April this year, makes over 90% of its turnover in North America, and does not have a production site in the EEA. The newly created Chrysler Group LLC has bought up nearly all the assets of the former company. Initial Fiat participation is 20%. This share may increase but already allows a level of control on Chrysler decisions. The Commission notes that horizontal and vertical overlapping between the activities of the parties do not entail competition problems on European Economic Area territory. (C.D./transl.jl)