Cerberus Capital Management, which currently owns 80 percent of Chrysler LLC, says it doesn’t intend to fully divest itself of the Auburn Hills, Michigan, automaker. The last few days have been filled with rumors of Cerberus’ desire to merge Chrysler with another automaker – most commonly rumored to be General Motors. But now Cerberus says it won’t fully divest itself of the automaker.
“Cerberus is not dumping Chrysler or simply swapping it for an increased share in GMAC. That deal was not discussed and they have no interest in it,” an inside source at the company told Reuters.
“In any business combination with GM or anyone else, Cerberus would look to come out on the other side owning a meaningful stake in the combined auto company,” the unidentified source continued.
Cerberus has also been looking to acquire the additional 20 percent of Chrysler from Daimler. The two have held talks that would see Cerberus at least temporarily owning 100 percent of Chrysler. Full ownership would make it easier to split the automaker with another partner – or to sell it off entirely.
Cerberus has been in talks with GM, Fiat, Renault-Nissan, Tata and Magna International.
10/14, 10:53 AM
posted by:
Lariat Luxury Locomotive Liner No.3
Your American bailout taxpayer money at work! Of course Cerberus wants to keep a stake. Simply read-up on Cerberus and you will find some of the most avaricious people on earth!
10/14, 11:01 AM
posted by:
johnnycanuck
I hope it’s Tata. A Nano SRT-4 would be damn near irresistible.
10/14, 3:44 PM
posted by:
yarddog82abn
So….Cerberus Capital Management what’s some of the bailout money….And I’m sure that’s going to be the hook they are going to use to try to hook-up with a another auto maker…
10/14, 9:48 PM
posted by:
hecti
fiat 500 srt-4 would be even cooler than a ****y tata piece of crap