Daimler to sell its remaining stake in Chrysler to Cerberus

Cerberus Capital Management is set to buy the rest of Chrysler from Daimler AG. According Daimler spokesman Han Jan, Daimler is holding talks with Cerberus to sell its remaining 19.9 percent stake in Chrysler.

“Daimler confirms that the company is in discussions with Cerberus Capital Management regarding the redemption of its remaining 19.9,” according to Daimler.

In August 2007, Cerberus bought 80.1 percent of Chrysler from Daimler for $7.4 billion and left 19.9 percent with Daimler. There is no word on how much Daimler’s 19.9 percent is worth.

 

Source: Automotive News (Subscription Required)