Plan to sell Chrysler assets approved by US judge

NEW YORK/DETROIT: A US bankruptcy judge on Sunday approved the sale of substantially all of US automaker Chrysler's assets to a group led by Italy's Fiat SpA hours before an expected bankruptcy filing by General Motors Corp.

Judge Arthur Gonzalez approved the $2 billion sale of the assets to a new company that will be 68 percent controlled by a healthcare trust aligned with the United Auto Workers union.

Fiat will control 20 percent, the US and Canadian governments will control the other 12 percent.