DaimlerChrysler to reduce debt sharply-CFO in paper

Newswire

FRANKFURT, May 18 (Reuters) - DaimlerChrysler will use the repayment of intercompany loans to reduce its debt sharply once the sale of its U.S. arm Chrysler closes, Chief Financial Officer Bodo Uebber told a newspaper. The group will also stop issuing bonds and commercial paper in the quarters ahead, he told Germany's Boersen-Zeitung in an interview published on Friday. U.S. private equity firm Cerberus Capital Management [CBS.UL] is buying a majority stake in Chrysler and will repay the ...

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