Fiat Hires Ex-U.S. Auto Task Force Advisor

Fiat SpA has hired Ron Bloom, a former top adviser to the Obama administration's auto task force, to counsel it about acquiring the 41.5% of Chrysler Group LLC it doesn't already own, Bloomberg News reports.

Fiat wants to acquire the Chrysler stake held by a United Auto Workers union's retiree healthcare trust, but the two sides cannot agree on the value of the trust's shares. Chrysler-Fiat CEO Sergio Marchionne is pushing for a resolution so he can complete the merger of the two companies.

Marchionne has indicated that Chrysler may files documents any day now for an initial public offering of 16.6% of the company. The trust has the authority to force an IPO, which would quickly establish a stock price for the carmaker.

Bloom left the Obama administration in August 2011. As a vice chairman of financial advisors Lazard Ltd., he has since been involved in several high-level business negotiations. Bloomberg notes that Bloom also is advising retired Detroit city employees who are fighting the bankrupt city's attempt to reduce their benefits.