Cerberus set to buy rest of Chrysler?
Cerberus set to buy rest of Chrysler: report
Wed Sep 24, 2008 12:09pm EDT
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: Quote, Profile, Research, Stock Buzz), 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.
LINK: Cerberus set to buy rest of Chrysler: report | Reuters
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