NEW YORK, NY--(Marketwire - April 27, 2010) - A wholly-owned subsidiary of Brock Capital Group LLC (Brock) has been engaged by the UAW Retiree Medical Benefits Trust (the VEBA Trust) to manage its ownership of notes and equity interests in Chrysler Group LLC. "We are fortunate in having a unique organization that combines many different talents and is particularly well-suited to deal with the complexities of this project," commented Charles Brock, Chairman and CEO of the Firm. "We are pleased to have been selected for this important assignment and look forward to using our best efforts to benefit the thousands of Chrysler retirees and their families."
Pursuant to a prohibited transaction exemption granted yesterday by the Department of Labor, the Chrysler securities were contributed to the VEBA Trust to fund retiree medical benefits for a defined group of current and future retirees. As independent fiduciary, Brock will act on behalf of the VEBA Trust in connection with the valuation, discretionary management and disposition of the Chrysler securities.
About Brock Capital Group
Brock Capital Group draws on the extensive experience and judgment of its members to offer: (i) value-added fiduciary services in a wide range of situations where corporate plan sponsors face potential conflicts of interest; (ii) integrated consulting, advisory and capital-raising services to companies of all sizes; and (iii) confidential advisory services to corporate boards, committees and "C-suite" executives on their most challenging and sensitive issues including corporate strategy, governance, organization, succession planning, executive compensation, operations, profit improvement, change of control transactions, turnaround and enterprise value enhancement. As former CEOs, senior corporate officers, consultants, investment bankers, economists, chief investment officers, entrepreneurs and lawyers, our team has unparalleled collective experience and extensive networks. More information about Brock Capital Group can be found on the Company's website at www.brockcapitalgroup.com.
Contact Information:
Contact:
Charles Brock
Tel. (212) 209-3000
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