Cerberus in talks with Diamler to buy remaining 19.9%
Cerberus Capitol Management owns an 80.1% stake in Chrysler. The deal between Daimler and Chrysler left Daimler with 19.9% in Chrysler. It would seem that Cerberus thinks that Chrysler is well on it’s way to becoming profitable and they don’t want to share any of that profit with Diamler, Cerberus wants to buy the remaining 19.9% from Daimler. From a Chrysler Press release:
Chrysler LLC confirms that Cerberus Capital Management, LP has approached Daimler AG about the possible redemption of its 19.9 percent stake in Chrysler Holding LLC. Cerberus and Daimler are currently in discussions.
In the event of a successful transaction, common projects between Daimler and Chrysler in the areas of research and development and advanced technologies would continue.
Since the guys running Daimler are pretty business savy I’m sure they’ll be eager to sell their remaining 19.9% to Cerberus.