Daimler sells Chrysler for £3.8bn
Tuesday, May 15, 2007
Cerberus Capital Management, one of the world's largest private equity firms, will pay £3.8bn for a 80.1 per cent stake in the new company officially known as Chrysler Holding following a month of speculation.
Chrysler, Jeep and, recently launched in the UK, Dodge look set to be separated from sister company Mercedes-Benz after parent firm DaimlerChrysler confirmed it is to sell off its Chrysler division to a private equity firm.
The deal is expected to be finalised this Autumn.