Cerebus Purchase of Chrysler May Become Official Today
Date 2007/8/3 7:44:59 | Topic: Miscellaneous
| Could today be the day that Chrysler Group is once again an American car company?
We just saw this article on iWon Money that indicates that might be the case:A historic deal that places Chrysler Group in the hands of private equity firm Cerberus Capital Management LP was expected to close Friday, according to a Chrysler official who asked not to be named because the deal was not yet completed.
The $7.4 billion deal was announced in May. Under the terms, DaimlerChrysler AG will transfer an 80.1 percent stake in Chrysler to New York-based Cerberus. Daimler will retain a 19.9 percent interest in the company.
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