Cerberus close to breakeven on Chrysler-source

Newswire

NEW YORK, Dec 21 (Reuters) - Cerberus' deal to sell Chrysler Financial to Toronto-Dominion Bank means that the private equity firm will end up close to breakeven on its investment in Chrysler as a whole, a source close to Cerberus said. Cerberus, along with a consortium of co-investors, bought an 80.1 percent stake in Chrysler and the auto company's financing arm Chrysler Financial in May 2007 for $7.4 billion. Cerberus lost control of the automaker during its restructuring but held on to ...

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