DaimlerChrysler

15 May 2007 -- A day after Germany's Daimler sold its U.S. Chrysler division to a private equity firm in New York, there are doubts whether the U.S.-based company can return to profitability.

The end of the transatlantic marriage carries a big price tag for Stuttgart-based Daimler. It paid $36 billion for Chrysler in 1998. This week it sold 80 percent of Chrysler to Cerberus Capital Management for $7 billion.    » read more »

May 14, 2007 -- WASHINGTON, DC -- Delaware's Congressional Delegation, Senators Joe Biden (D-DE) and Tom Carper (D-DE) and Congressman Mike Castle (R-DE) today issued the following statement after DaimlerChrysler announced that it plans to sell controlling interest in Chrysler to a private equity firm, Cerberus Capital Management, LP.    » read more »

May 14, 2007 -- JEFFERSON CITY– Missouri Governor Matt Blunt today issued the following statement on the purchase of Chrysler by Cerberus Capital Management:

“I spoke this afternoon with Frank Fountain the Senior Vice President for DaimlerChrysler who assured me that notwithstanding this announcement all investments in Missouri will continue.

"My primary concern has been, is and will be the stability of these important Missouri jobs.

"I look forward to working with the new management company to support our workers.”

Source: Missouri Governor

May 14, 2007 -- LANSING - Michigan Governor Jennifer M. Granholm today issued the following statement on the purchase of the Chrysler Group by Cerberus Capital Management LP:

"Today's announcement by DaimlerChrysler AG that it will sell the Chrysler Group to Cerberus is a solid announcement for the state of Michigan and Michigan workers.

"Chrysler's $1.78 billion investment in facilities in Trenton, Marysville, Sterling Heights and Warren is going forward as announced, and that means jobs for Michigan workers.    » read more »

Affiliate of Cerberus to acquire 80.1% equity interest in new company Chrysler Holding LLC; DaimlerChrysler AG to retain 19.9%; Obligations for pensions and healthcare costs to be retained by Chrysler companies

STUTTGART, Germany, May 14 -- The Board of Management of DaimlerChrysler AG (stock-exchange abbreviation DCX) has today decided, subject to the approval of the Supervisory Board and the relevant authorities, on the future concept for the Chrysler Group and the realignment of DaimlerChrysler AG.    » read more »