The news of the month is easily Cerberus’ possible sale of Chrysler , with new reports seemingly popping up by the minute. Despite all the reports, very little has actually come from Chrysler or Cerberus. But Cerberus has apparently had enough of the speculation and has spoken up for itself.
While there has been talk that Cerberus will split up Chrysler – with part going to General Motors and part going to Nissan – Cerberus says not so fast. The capital management firm says it has no plans to split up Chrysler and would prefer to sell the automaker in one big chunk. A lump sale would give Cerberus better leverage at the negotiations tables.
Moreover, Cerberus has a bigger interest in selling Chrysler to GM rather than Nissan , which would likely give Cerberus the remaining stake in GMAC. As it stands, GM owns 49 percent of GMAC while Cerberus controls the other 51 percent.
Despite the commotion surround the possible merger, Chrysler President Jim Press assured employees and stakeholders that it will continue to be business as usual at Chrysler. “The best thing we can do is focus on our business at hand and try to match and beat the competitors,” Press told The Detroit News.
