DaimlerChrysler confirms they are looking for a buyer for Chrysler

DaimlerChrysler confirms they are looking for a buyer for Chrysler

DaimlerChrysler has now confirmed that they are indeed looking for a buyer for their loss-making Chrysler Group unit. The company has however not committed that they would indeed sell off the U.S. business.

DaimlerChrysler Chief Executive Dieter Zetsche said in a statement: “I can confirm that we are talking with some of the potential partners who have shown a clear interest. But it is also true that we need to keep all options open, and that I cannot disclose any details, because we need to have the maximum scope for maneuver. So far I am satisfied with the process. Everything is going according to plan.” He was speaking at the annual meeting of the company.

Market sources claim that private equity groups Cerberus Capital Management and The Blackstone Group along with Canadian car parts group Magna International Inc are very much interested in acquiring Chrysler which is the third largest US automaker after General Motors and Ford.

The expected price for Chrysler is said to be around USD 8 billion.