Posted by mike on 2007/8/3 8:44:59 (875) reads
Could today be the day that Chrysler Group is once again an American car company?
We just saw this article on iWon Money that indicates that might be the case:
A historic deal that places Chrysler Group in the hands of private equity firm Cerberus Capital Management LP was expected to close Friday, according to a Chrysler official who asked not to be named because the deal was not yet completed.
The $7.4 billion deal was announced in May. Under the terms, DaimlerChrysler AG will transfer an 80.1 percent stake in Chrysler to New York-based Cerberus. Daimler will retain a 19.9 percent interest in the company.
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Posted: 2007/8/3 10:30 Updated: 2007/8/3 10:30
Home away from home
Re: Cerebus Purchase of Chrysler May Become Official Today
I am looking forward to the privatization of the company... Cerebus has a history of holding onto their purchases and has voiced every intent to do so with this company... so few worries of cannibalization. Their first order of business will be to get the UAW and CAW to agree to foot a majority/all of the legacy healthcare costs. After that is completed Cerebus can get on with business ... a Chrysler group with less bean counters and more focus on quality, performance, and what loyal customers want.