Monday, May 14, 2007

Daimler Sold Its Majority Stake In Chrysler


Daimler sold Chrysler to Cerberus Capital Management.Cerberus Capital Management will take an 80.1-percent chunk of Chrysler, while DCX holds on to the remaining 19.9-percent.Cerberus Capital Management will pay $7.4 billion for the majority stake.The entire deal is expected to close by the third quarter of this year.

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