Chrysler Sold To Cerberus Capital Management

14 May 2007

DaimlerChrysler, soon to be just Daimler, sold Chysler to Cerberus
Capital Management, a private equity firm looking for a new billion
dollar challenge. They receive the brands Chrysler, Dodge and Jeep,
and Daimler receives some cash. Though the deal says its 7.4 billion,
they’ll really only get about 1.35 since much of the money will be
reinvested in Chrysler.

Daimler will retain a 19.9% share of Chrysler, leaving it with
Mercedes-Benz. So, this time next year, we’ll be reporting on how
Daimler is struggling to improve the reliability of their Mercedes
vehicles…wait, that’s already happening. Sure Mercedes look nice,
but their notoriously unreliable.

Message to Cerberus: I want a Dodge Demon.

CarKing

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