Daimler May Exit Chrysler

Daimler AG is in talks to sell its remaining 19.9% stake in Chrysler LLC to majority owner Cerberus Capital Management LP.

“Daimler confirms that the company is in discussions with Cerberus Capital Management regarding the redemption of its remaining 19.9% stake in Chrysler,” the German auto maker confirms in a statement.

Cerberus acquired its 80.1% holding in Chrysler from Daimler in August 2007. It reported yesterday that Chrysler has lost $400 million so far in 2008.