The Detroit Free Press is reporting that a German magazine stated that Daimler would like to unload the remaining shares of Chrysler LLC that it now owns. When Cerberus took over the automaker, Daimler held on to almost 20% of the company.
It was also reported that Daimler would likely not lose money on this transaction, and that it could be completed within a few weeks. So far there's been no comment from either company on this deal.
Here's AutoObserver's take: Daimler Wants to Ditch the Rest of Its Chrysler Stock
ateixeira says:
08:55 AM, 09/25/08
Interesting timing with the 3 EV concepts coming out just as they're ready to sell shares.
kcram says:
09:47 PM, 09/26/08
Chrysler actually did make a press release regarding this...
Statement in Response to Media Speculation on Daimler's 19.9 Percent in Chrysler Holding LLC
Auburn Hills, Mich., Sep 24, 2008 - 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.
estreka says:
11:47 AM, 09/28/08
This is a huge boon to Daimler shareholders. Cut loose the heavy burden that sinks your ship.