Cerberus Capital Managment to Take Over Chrysler

You might have heard that Cerberus bought 80.1% of DaimlerChrysler last year.  Well Daimler wants to get out of the bed it’s been sharing with Chrysler and is currently willing to sell it’s remaining 19.9% ownership in DaimlerChrysler to Cerberus.

If the companies can come to terms quickly enough, the sale could take place in a matter of a few weeks.  The result would be 100% ownership of Chrysler by Cerberus.  Although the ties would be broken between the American Chrysler and the German Daimler, it might be what Chrysler needs to re-group and re-organize the company in these tough times for auto manufacturers.  Good luck Chrysler!

Source: MotorAuthority


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