Chrysler draws down $2 bln credit line - Daimler

Newswire

STUTTGART, Germany, June 24 (Reuters) - Daimler AG said on Tuesday that ailing U.S. carmaker Chrysler, in which it sold a majority stake last year, has drawn on a $2 billion credit line from its two big shareholders. Private equity group Cerberus Capital Management LP [CBS.UL] last year bought an 80.1 percent stake in Chrysler, which said last week it was meeting or topping its financial targets despite the deepening slump in the U.S. automotive market. Chrysler has drawn on the credit ...

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