Go Back   Team-BHP > BHP Worldwide > The International Automotive Scene


Reply
 
Thread Tools Search this Thread
Old 14th May 2007, 14:21   #1
BHPian
 
Join Date: Sep 2005
Location: Bangalore
Posts: 569
Thanked: 5 Times
Default Chrysler on Verge of Sale to a Private Firm!

Chrysler on Verge of Sale to a Private Firm


By MICHELINE MAYNARD and MARK LANDLER
Published: May 14, 2007
FRANKFURT, May 13 — DaimlerChrysler appears close to selling the struggling Chrysler Group to a private equity firm that specializes in restructuring troubled companies, unwinding a 1998 merger that was meant to create a trans-Atlantic automotive powerhouse, people with direct knowledge of the discussions said on Sunday.

Read the rest:
http://www.nytimes.com/2007/05/14/au...th&oref=slogin
rangaraj is offline   Reply With Quote
Old 14th May 2007, 14:29   #2
Team-BHP Support
 
theMAG's Avatar
 
Join Date: May 2006
Location: Long Island, NY
Posts: 7,036
Thanked: 1,469 Times
Default

Well, it was never a "merger between equals" as claimed anyway. Another erstwhile mighty American tree is felled.
theMAG is offline   Reply With Quote
Old 14th May 2007, 16:15   #3
BHPian
 
pawan's Avatar
 
Join Date: Sep 2006
Location: auckland, new zealand
Posts: 867
Thanked: 2 Times
Default

woo this is interesting news a American icon might be lost.
pawan is offline   Reply With Quote
Old 14th May 2007, 16:45   #4
GTO
Team-BHP Support
 
GTO's Avatar
 
Join Date: Feb 2004
Location: Bombay
Posts: 47,727
Thanked: 88,973 Times
Default

Just as expected! Has predicted this a while back : Linky (Chrysler in Deep trouble. Daimler-Chrysler Divorce?)
GTO is offline   Reply With Quote
Old 14th May 2007, 17:11   #5
Team-BHP Support
 
Join Date: Feb 2004
Location: Bangalore
Posts: 11,881
Thanked: 9,692 Times
Default

Sold to Cerebus - 80% stake for $7.4 billion
ajmat is offline   Reply With Quote
Old 14th May 2007, 17:12   #6
Senior - BHPian
 
merve_extreme's Avatar
 
Join Date: Apr 2004
Location: Mumbai
Posts: 1,360
Thanked: 12 Times
Default

Diamler AG has sold 80.1% of Chrysler for 5.5b Euro(7.4bn $) to American private-equity company Cerberus.The rest 19.9% will be held by Diamler AG.

the significant thing is that Healtcare liabilities of $19bn (£9.6bn) will be taken care of by Cerberus.

Last edited by merve_extreme : 14th May 2007 at 17:15.
merve_extreme is offline   Reply With Quote
Old 14th May 2007, 18:24   #7
BHPian
 
Join Date: Sep 2005
Location: Bangalore
Posts: 569
Thanked: 5 Times
Default A lot more than an American Icon!

Quote:
Originally Posted by pawan View Post
woo this is interesting news a American icon might be lost.
DaimlerChrysler - Brands & Products - Overview - Our brand Web sites

Mercedes Group
> Maybach, Mercedes, Smart

Chrysler Group
> Dodge, Chrysler, Jeep

DaimlerChrysler Truck Group
> Mercedes, Freightliner, Mitubishi Fuso etc..

Besides some in the component markets and financial services..






(*) Includes Truck Group, Van operations, Bus operations

Components



Financial Services
rangaraj is offline   Reply With Quote
Old 14th May 2007, 18:52   #8
BHPian
 
pawan's Avatar
 
Join Date: Sep 2006
Location: auckland, new zealand
Posts: 867
Thanked: 2 Times
Default

i just wish it doesnt have the same fate as amc.

Chrysler Group
> Dodge, Chrysler, Jeep


its highly unlikely these cars are going to end.especially dodge.

Last edited by pawan : 14th May 2007 at 18:54.
pawan is offline   Reply With Quote
Old 14th May 2007, 18:53   #9
Senior - BHPian
 
ported_head's Avatar
 
Join Date: Mar 2004
Location: Mumbai, India
Posts: 2,391
Thanked: 8 Times
Default

It bled DC quite a bit I guess, considering it was bought for $ 36 billion in 1998. That's not going to look good in the books.
ported_head is offline   Reply With Quote
Old 14th May 2007, 19:54   #10
BHPian
 
Join Date: Sep 2005
Location: Bangalore
Posts: 569
Thanked: 5 Times
Default

Sorry about the previous post.. Daimler Chrysler actually sold its american arm (which it acquired earlier) - namely chrysler.. Now i guess, they will call themselves Daimler again..
rangaraj is offline   Reply With Quote
Old 14th May 2007, 20:12   #11
BHPian
 
whatcanthisbe's Avatar
 
Join Date: Mar 2006
Location: http://www.wandering-online.com
Posts: 501
Thanked: 3 Times
Default

Cerberus likely buyer of Chrysler - Yahoo! News

Quote:
Private equity firm Cerberus Capital Management LP likely will be the winning bidder to buy Chrysler Group from DaimlerChrysler AG, and an announcement could come as early as Monday, a company official said Sunday.
.
.
.
Daimler-Benz AG paid $36 billion for Chrysler in 1998.
Note from the Support Staff: Providing a link to the article will suffice. Avoid copy-pasting from websites.

Last edited by aah78 : 15th May 2007 at 01:15. Reason: editing copy-pasted text
whatcanthisbe is offline   Reply With Quote
Old 17th May 2007, 09:02   #12
Senior - BHPian
 
lurker's Avatar
 
Join Date: Jun 2006
Location: Tura
Posts: 1,308
Thanked: 640 Times
Default

Will Chrysler’s next suitor be from India?


Will Chrysler?s next suitor be from India? - livemint

Rather, Cerberus is looking to capitalize on its investment in a money-losing business by slashing costs, wringing additional concessions from auto workers and generally sprucing up the balance sheet for whoever buys the company next.

....

Korth’s guess is that Chrysler will continue focusing on what Detroit does so well—selling larger-sized vehicles that Americans crave—and will leave the cutting-edge stuff to the Japanese. And after Cerberus cleans house, she believes the most likely buyer will be another overseas company. “It could be someone from Asia this time,” Korth said. “Maybe someone from India.”
lurker is offline   Reply With Quote
Old 17th May 2007, 14:00   #13
GTO
Team-BHP Support
 
GTO's Avatar
 
Join Date: Feb 2004
Location: Bombay
Posts: 47,727
Thanked: 88,973 Times
Default

A shot in the dark : But dont you think it will be cool for Mahindra to pick up "Jeep"?
GTO is offline   Reply With Quote
Old 18th May 2007, 20:56   #14
Senior - BHPian
 
lurker's Avatar
 
Join Date: Jun 2006
Location: Tura
Posts: 1,308
Thanked: 640 Times
Default

Market rumor has it that Tata is going to pick it up. Because advisors to Tata and Cerberus Holdings is the same Nathaniel Rothschild.

Ofcourse Mahindra might need Chrysler more.

On news of Chrysler acquisition by Cerberus Tata share price NYSE jumped to 25$

Last edited by lurker : 18th May 2007 at 20:57.
lurker is offline   Reply With Quote
Old 19th May 2007, 00:45   #15
BHPian
 
Join Date: Apr 2007
Location: Scottsdale
Posts: 680
Thanked: 6 Times
Default

TATA should pick-up Chrysler if they want to go bankrupt
There is nothing that TATA can learn from Chrysler. TATA wants to be a small car manufacturer where as chrysler doesn't have a single small car in its stable. Tata has an alliance with FIAT which is benefitting both companies and it should remain that way for another 5 years till TATA has a good product line.
Mahindra on the other hand would be an ideal suitor if they can pickup Dodge and Jeep brands and seperating them from Chrysler. Mahinda has ambitions in US and Jeep, Dodge have what it takes to make its dreams a reality.
Mayavi is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Fiat & Chrysler in partnership talks! EDIT: Fiat completes Chrysler buyout madan80 The International Automotive Scene 61 30th January 2014 15:43
Kaas on the verge of blooming in September parsh Travelogues 15 12th July 2013 14:10
Ferrari 250 GTO for "Private Treaty" Sale wasif Beyond Borders 10 2nd September 2010 12:32
Chrysler in Deep trouble. Daimler-Chrysler Divorce? GTO The International Automotive Scene 21 5th April 2007 16:28
daimler chrysler muv for sale honda_dude Shifting gears 5 8th July 2006 14:50


All times are GMT +5.5. The time now is 12:16.

Copyright ©2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks