With Chrysler nearing the end of it’s “prepackaged bankruptcy”, they are working to wrap everything up for exit. Pre-bankruptcy, one of the assets Chrysler intended to sell was the Viper brand. Chrysler deemed it something that would be attractive to a potential buyer, especially given that sales have held up for it in the midst of all the turmoil surrounding Chrysler’s future as well as economic reasons.
Chrysler said it identified many interested parties but according to recent documents filed, not many seem to be seriously pursuing a purchase. Only one bidder has submitted an offer, and for significantly less than Chrysler’s $10 million asking price. That’s pretty shocking given Viper’s notoriety! It must have more to do with the economic situation.
First off, the $10 million asking price is an excellent deal. Even if just the Viper name is included it would be worth it. How much more so if the tooling for producing the car is a part of the deal? That would be huge. What’s more, the lone bidder Devon Motor Works, offered a little less than half of that. Devon Motor Works offered $5.5 million for the brand along with a one year lease contract for the Viper’s assembly plant.
Chrysler says it is reviewing the offer to make sure Devon Motor Works has proper access to financing in order to complete the purchase. If Devon Motor Works does get it though, they will be getting an amazing deal! If I was financially well connected I’d be taking advantage of the opportunities to purchase these valuable assets at amazing prices.
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