Michael Shields
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/ 14 May 2007

Cerberus to buy majority of Chrysler for $7,4bn

Private equity firm Cerberus will buy the majority of DaimlerChrysler’s struggling Chrysler Group for ,4-billion, a fraction of the -billion deal that created the transatlantic car union nine years ago. Cerberus Capital Management gets an 80,1% stake in Chrysler and its related financial services business, DaimlerChrysler said on Monday.