Cerbrus buys Chrysler
August 6, 2007 by Alborz Fallah
Although this isn’t exactly breaking news, Chrysler Australia released a press release last week confirming the sale of the majority interest (80.1 percent) in the Chrysler Group to an affiliate of Cerberus Capital Management.
Chrysler produces Chrysler, Jeep, Dodge and Mopar brand vehicles. The new company, named “The New Chrysler” will be the first major North American car manufacturer in the last 50 years to be privately owned. Daimler is expected to hold onto 19.9 percent of Chrysler for the time being.
The New Chrysler will start work today, (Monday, August 6) in Michigan, and first on the job list is a revamp of the logo, the Pentastar logo will make a return.
As for the buyer, Cerberus, the company was established in 1992, and is one of the world’s leading and most recognized private investment firms with approximately $25 billion under management in funds and accounts.
A new era for Chrysler begins today.
Print it: 
*PRIMO*
Bring back the Valiant and Chargers!
Cheers
F-0
And the sigma lol
The usual thing that happens when private equity buys a company is they want to make big profits fast.
That is something that Daimler Chrysler could not do, and Chrysler sure wouldn’t do it without decent technology from Daimler.
To me, this means Chrysler will be put into as much debt as possible as soon as possible, the cash so raised will be siphoned out into the new owner’s hands, the company will be resold and will and will then be in receivership faster than a Valiant master cylinder fails.
Where is the point of loyalty?