Daimler close to selling remaining stake in Chrysler

Discussion in 'The SRTConnection Lounge' started by SRT8U, Sep 24, 2008.

  1. Sep 24, 2008 at 12:32 PM #1
    SRT8U

    SRT8U Supporting Vendor

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    Daimler close to selling remaining Chrysler stake. Daimler AG (55.92,-0.11,DAI) said it's in talks with buyout firm Cerberus Capital Management LP to sell its remaining stake in Chrysler LLC. According to a statement, Daimler is in discussions “regarding the redemptionâ€￾ of its 19.9% holding in Chrysler. Daimler sold 80.1% of Chrysler to Cerberus in August 2007 as losses mounted. It granted the manufacturer a $1.5 billion loan in June, fulfilling a condition of the deal. Chrysler has continued to burden Daimler's earnings, erasing 373 million euros ($548 million) from second-quarter profit.
     
  2. Sep 24, 2008 at 1:03 PM #2
    Cygnus

    Cygnus Platinum Supporting Member

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    Interesting information Kris and thanks for sharing!
     
  3. Sep 24, 2008 at 3:09 PM #3
    Razorecko

    Razorecko New Member

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    you know what will happen after cerebrus owns everything ?? There will be no more mercedes parts in the chrysler vehicles....like the jeeps tranny.