Cerberus to buy the rest of Chrysler from Daimler

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Sep 24, 2008 | 11:36 AM

guionM

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Joined: Mar 2001

Posts: 13,713

From: The Golden State

Cerberus to buy the rest of Chrysler from Daimler

This goes back to the post I made some time ago when another member posted an internet rumor that Cerberus was dumping Chrysler when in reality, Cerberus was buying up shares from the partners that helped them buy Chrysler .

Quote:

Cerberus set to buy rest of Chrysler:

FRANKFURT (Reuters) - Private equity firm Cerberus Capital Management is in talks to buy the remaining 19.9 percent stake in U.S. carmaker Chrysler LLC still held by Daimler AG (DAIGn.DE), Germany's Manager Magazin reported.

Citing unidentified company sources, the magazine said on Wednesday that final details were being worked out and a sale could be possible within weeks.

Cerberus bought 80.1 percent of Chrysler in May 2007 in a $7.4 billion deal struck just before turmoil erupted on financial markets, which has led in turn to a sharp slowdown in U.S. car sales.

Daimler was not immediately available for comment.

(Reporting by Michael Shields; Editing by Richard Hubbard)

Sep 24, 2008 | 12:43 PM

soul strife

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Joined: Apr 2005

Posts: 824

From: North of Cincy

So, what does Cerberus know that we don't?

Sep 24, 2008 | 01:09 PM

GTOJack

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Joined: Oct 2006

Posts: 976

From: SE MI

When you own the complete company, you can part it out as you wish.

Sep 24, 2008 | 04:34 PM

mastrdrver

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Joined: Jun 2002

Posts: 1,817

From: O-Town

Quote:

Originally Posted by GTOJack

When you own the complete company, you can part it out as you wish.

Now that it is completely private, Chrysler doesn't have to show any numbers if they don't want to. I really doubt the parting up of the company, seeing as that thought is brought out every time something is mentioned about Chrysler along with Cerberus.