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October 10, 2008 4:17:46 PM CDT

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Cerberus Close to Consuming Chrysler

Posted May 13, 07 10:10 PM CDT in Business,  US 

(Newser) – Private equity firm Cerberus Capital Management is said to have cut a deal to buy Chrysler from DaimlerChrysler.  Cerberus has lots of experience in negotiating for assets in the auto industry, having led the buyout of auto parts maker Delphi, which has not yet closed and may yet fall apart.

If Cerberus is successful, it will beat out a private equity group led by Blackstone, auto parts maker Magna and perennial Chrysler wannabe owner Kirk Kerkorian.

Source Reuters

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(FILES) US flags flutter in the wind underneath a sign displaying...   (Getty Images)
FILES - Picture taken 07 January 2007 shows Dr. Dieter Zetsche...   (Getty Images)
Relief of Cerberus on portico of castle Friedrichsfelde in Tierpark Berlin zoo, Berlin, Germany. Photo taken by User:Sebastian Wallroth on 22. May 2005. Public Domain   (Wikimedia Commons)
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auto industry  • acquisitions  • private equity  • Chrysler  • Cerberus Capital Management  • DaimlerChrysler  • Magna International Inc.  • Delphi


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