GMAC, Chrysler Synergies?

General Motors Corp. Chairman and CEO Rick Wagoner says there are possible synergies between General Motors Acceptance Corp. and Chrysler Financial Services, the financial arms of the respective auto makers.

Cerberus Capital Management LP, which is set to acquire a majority stake in Chrysler Group, bought 51% of GMAC last November, opening the door for a possible merger of the financial entities.

Although he admits there is a possibility of a partnership between GMAC and Chrysler Financial, Wagoner says the subject has yet to be formally discussed.

“It's too early to speculate on what would be the right way to cooperate,” Wagoner says. “I think it's possible for Cerberus to have GMAC and Chrysler Financial seek out opportunities.

“Nothing has been specifically presented to us, and we haven't developed any ideas, but I'm sure that will be happening over time,” he adds, noting GM's agreement with Cerberus allows the auto maker to have a say in such matters.

When posed with the question of whether GM could be the next auto maker to be targeted by a private equity group, Wagoner says anything is possible.