AM Online

Daimler to sell remaining stake in Chrysler

Daimler is preparing to sell its remaining 19.9% stake in Chrysler to new owners Cerberus, private equity group.

Daimler would not comment further on the reasons for the sale, which backtracks on its original plans to keep a stake in Chrysler.

Cerberus bought the majority of Chrysler over a year ago and if it acquires the remaining stake it will allow its board of managers more flexibility on the way it runs the business.

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