Group Chrysler, Acquired by Cerberus Capital Management
It is now official: basically, giant DaimlerChrysler no longer exists, the Group Chrysler being sold to Cerberus Capital Management, one of the largest investment companies in the world. Investment fund bought 80.1% stake in new company Chrysler Holding LLC. This apart one of the largest mergers in auto industry history, made 9 years ago between the German company Daimler (Mercedes-Benz) and the U.S. Chrysler (Jeep, Chrysler and Dodge). As is known, the American division of Daimler group Chrysler was removed from sale in February this year, after Chrysler reported losses of nearly 1.5 billion U.S. dollars by 2006. This is the first time a major car manufacturer is bought by a private investment fund.
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