Chrysler loan payoff could save it $300 mln/yr-CEO

Newswire

MACOMB, Mich., May 23 (Reuters) - Chrysler Group LLC could save up to $300 million a year in interest payments if it pays off its loans to the U.S. government on Tuesday as expected, its CEO said on Monday. "Tomorrow's payoff day," Sergio Marchionne told reporters at the grand opening of the first Fiat dealership in Michigan. Marchionne, the chief executive of both Chrysler and Italy's Fiat , said that Fiat's current 30 percent stake in Chrysler will rise to 46 percent when it pays off ...

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