Cerberus Capital Management is in talks with Daimler AG about acquiring the German company’s remaining minority stake in Chrysler LLC, the companies said today.
“We are currently in discussions. In the event of a successful transaction, all existing industrial relationships between Daimler and Chrysler would continue,” said a statement from Cerberus spokesman Peter Duda.
Daimler issued a similar statement, confirming that the automaker is in discussions with Cerberus “regarding the redemption of its remaining 19.9% stake in Chrysler LLC.” A Daimler spokesman declined to say more.
A little over a year ago, Cerberus acquired 80.1% of Chrysler from then-DaimlerChrysler AG, leaving the German company with a minority stake in the Auburn Hills automaker.
Manager Magazine first reported the deal, saying it could be completed in a few weeks. The German magazine also said Daimler’s share of Chrysler was weighing down the publicly traded company’s stock price.
Source:Freep.com
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