Cerberus likely to buy Chrysler Group
Capital management company Cerberus buys into DaimlerChrysler's US operationsCerberus Capital Management LP likely will be the winning bidder to buy the Chrysler Group from DaimlerChrysler AG, and an announcement could come as early as Monday (US time), a Chrysler official says.
The official, who spoke on the condition of anonymity because negotiations still have not been finalized, said no announcement would be made on Sunday.
The potential sale, reported Sunday by The Wall Street Journal on its website, comes after nearly two months of study and negotiations by several companies interested in buying DaimlerChrysler's troubled US operations.
The German company announced on February 14 that all options are open for the automaker, which lost $US1.5 billion ($A1.82 billion) last year and is undergoing a restructuring plan that will eventually shed 13,000 jobs.
Source: AAP 2007
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