DaimlerChrysler to erase excess liquidity by end-Q1

Newswire

FRANKFURT, Aug 20 (Reuters) - DaimlerChrysler intends to dispose of around 10 billion euros ($13.5 billion) in excess liquidity on its books by the end of March 2008, the carmaker said on its website. The billions in excess funds will arise from buyout firm Cerberus Capital Management's [CBS.UL] purchase of an 80.1 percent stake in the company's U.S. arm Chrysler Group and its related financial services business in North America. "When Cerberus acquires the Chrysler Financial Services ...

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