Chrysler-Cerberus: A Done Deal
By Michelle Krebs August 3, 2007DaimlerChrysler and private equity firm Cerberus Capital Management signed the contracts giving Cerberus 80.1 percent of Chrysler in a historic $7.4-billion deal.
The New Chrysler will throw a party to celebrate its divorce from Daimler and its marriage to Cerberus with ceremonies on Monday at its corporate headquarters outside of Detroit and in its facilities worldwide. On Thursday, Chrysler workers were testing the unfurling of a giant banner saying âGet Readyâ that will hang on the side of Chryslerâs 15-story office tower.
Chrysler insiders told the Detroit News the company will hold New Chrysler celebrations for customers at U.S. dealerships on August 15.
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