Cerberus Buys Majority Stake in DaimlerChrysler
Private equity firm Cerberus Capital Management is purchasing a controlling stake in the Chrysler division of DaimlerChrysler, which is selling 80 percent of the Chrysler Group for $7.4 billion. The financial genius' at Daimler purchased Chrysler for $36 billion in 1998.
The following is a summary of the deal from DaimlerChrysler.com:
Affiliate of Cerberus to acquire 80.1% [...]
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