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Cerberus nears deal to buy remaining Chrysler stake

Oct 16, 2008

NEW YORK, Oct 16

Private equity firm Cerberus Capital Management CBS.UL is nearing a deal to buy Daimler AG's remaining stake in Chrysler LLC, sources familiar with the talks said.

Cerberus is in talks with various automakers including General Motors Corp and Renault SA involving alliances or a sale of all or part of Chrysler, sources have told Reuters.

Any such deal would hinge on Cerberus acquiring the 19.9-percent stake of the third-largest U.S. automaker it does not already own, the sources said.

Daimler has no interest in participating in a merger between Chrysler and another automaker, a person familiar with the German automaker's planning said earlier this week.

Cerberus declined comment while Daimler could not be immediately

LINK:Cerberus nears deal to buy remaining Chrysler stake-sources | Markets | Markets News | Reuters


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