DaimlerChrysler to sell Chrysler Group for $7.4 Billion
Monday, May 14, 2007 The DaimlerChrysler Corporation has announced that the corporation is divesting itself of the Chrysler Group by selling it to New York City-based private equity firm Cerberus Capital Management for US$7.4 billion. The companies’ names are announced to be changed to Daimler AG and Chrysler Holding LLC. DaimlerChrysler has sold 80.1% of its stake in Chrysler, retaining the other 19.9%, for joint ventures and other agreements and partnerships. Cerberus has agreed toContinue reading