Cerberus looking to buy Daimlers remaining 19.9% stake in Chrysler

[squat]

Cerberus capitol management currently owns an 80.1% stake in Chrysler, Daimler AG owns the rest.  Cerberus apparently thinks that Chrysler is on it's way to profitability and doesn't want to share any of the profits with Daimler. 

From a press release:

Chrysler LLC confirms that Cerberus Capital Management, LP has approached Daimler AG about the possible redemption of its 19.9 percent stake in Chrysler Holding LLC. Cerberus and Daimler are currently in discussions.

In the event of a successful transaction, common projects between Daimler and Chrysler in the areas of research and development and advanced technologies would continue.

Since Daimler knows the auto industry so well I'm sure they will be eager to sell the stake they have in Chrysler.

[dodgerider]

Diamler ran chrysler right into the ground.  I hope they give up the remaining 20% and let chrysler just be chrysler. 

[06Hemiman]

Daimler is hurting just as bad as the US automakers.  I hope they crash and burn for what they did to chrysler.  Of course I'm sure you could go to mercedes forum and find them blaming chrysler.

[dodger098]

Can cerberus even pull this off?  Chrysler isn't all that profitable right now, why would they want to spend more money buying the rest of chrysler?  Unless they want to buy the rest of chrysler and then just offload it to someone I don't think this makes any sense.