Despite enduring a less-than-amicable Daimler Chrysler divorce back in August 2007, German automaker Daimler still retains a nearly 20 percent share of Chrysler LLC. The German automaker, which produces Mercedes-Benz and Smart vehicles, seems to think that yesterday’s Fiat-Chrysler alliance announcement makes this the right time to divest itself of Chrysler.
“We are still trying to divest our 19.9 percent stake in Chrysler,” a Daimler spokesman told Reuters.
The spokesman didn’t mention to whom the holding would be sold, however. Daimler has been in talks with Cerberus Capital Management, the New York-based financial holding group that currently owns the rest of Chrysler . Cerberus and Fiat have entered into an alliance that, pending regulatory approval, would see the Italian automaker acquiring 35 percent of Chrysler in exchange for access to small car platforms. Fiat would be able to use Chrysler’s extensive North American distribution network as part of the deal.
