Daimler refuses to buy Chrysler
The European Commission gave permission for the purchase of Chrysler, the American division of DaimlerChrysler, the investment fund Cerberus, Reuters reported.
The deal was approved under unusual conditions for such operations, namely - not received any objection to a customer or competitor of the company.
DaimlerChrysler announced the agreement with Cerberus in May. The price of the transaction is 7.5 billion dollars, the acquisitions is 80.1 percent share of the capital. The rest of the remaining shares owned by the German company.
Now, however, German automobile concern Daimler intends to sell it owned 19.9 percent of the shares of the owner Chrysler of the U.S. car company - direct investment fund Cerberus Capital Management, Vedomostis Journal reported on information from both companies.
Daimler Benz bought Chrysler before 10 years to 36 billion dollars, but last year decided to escape from the majority of chronically loss-working American division sold 80.1 percent of the shares of Chrysler to Cerberus for 7.4 billion dollars.
Then by Daimler said it would maintain its block of shares in Chrysler. Why have changed your mind, by the management of Daimler now no comment.
Chrysler situation is now complicated. Sales for the first 8 months of the year fell by 24 percent annually, and yesterday became known during the company’s loss amounted to 400 million dollars.
Daimler-Chrysler deal information
Daimler announced financial investor Cerberus buyer of Chrysler. Germans still want to retain minority stake in the company.
Cerberus is a name that comes from Greek mythology. According to previously is scary beast who kept the gate between the lower and upper world and prevent the dead to return back to live. The financial investor, who won the auction for the American legend Chrysler bears his name - Cerberus. The deal between DaimlerChrysler and Cerberus was just announced.
The price of the transaction is 7.5 billion dollars for 80.1 percent of the shares. Germans retain minority package in the American company, which accounts for the remaining 19.9 percent.
Until recently alleged that Magna is the favorite to buy the Chrysler. It appears, however, after the original tender negotiations are frozen. The same happened in talks with investment firm Blackstone. But the offer of billionaire Kirk Kerkoryan which was for 4.5 billion dollars, was never discussed by Daimler. On the by Cerberus, represented by former chief of Chrysler in board and chief Wolfgang Bernhard of Volkswagen were kept very thorough negotiations.
Tags: dollars, funds, investment, shares
