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Daimler May Exit Chrysler

Cerberus reported yesterday that Chrysler has lost $400 million so far in 2008.

Published Sept. 24, 2008
By Ward's Staff

Editor's note: This story is part of the WardsAuto digital archive, which may include content that was first published in print, or in different web layouts.

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.

Filed Under: Automakers

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