Chrysler Sale to Cerberus Finalized

Chrysler LLC says the sale of the auto maker to Cerberus Capital Management LP is official.

“I would like to thank Chrysler employees for their continued commitment to Chrysler’s turnaround,” says Cerberus CEO Steve Feinberg following the official closing of the sale. “We are excited about realizing this monumental opportunity to help bring an American automotive icon back to a path for profitability and long-term success.”

Chrysler says it will celebrate its “First Day” as “The New Chrysler” on Aug. 6 at its Auburn Hills, MI, headquarters and other global facilities.

The pentastar logo, which will become Chrysler’s official trademark again, will be shown that day in its revised form.

With the sale of Chrysler to Cerberus, DaimlerChrysler AG is renamed Daimler AG, pending shareholder approval, and holds onto 19.9% interest in Chrysler.

Chrysler Financial becomes The New Chrysler Financial, a standalone company.