The DaimlerChrysler experiment officially is over, as private equity investor Cerberus Capital Management LP today completed its purchase of a majority interest in Chrysler Group. Cerberus now owns 80.1 percent of Chrysler Holding LLC, and DaimlerChrysler retains a 10.9 percent interest. DaimlerChrysler will be renamed Daimler AG. Dieter Zetsche, chairman of the board of DaimlerChrysler AG and head of the Mercedes Car Group said, "Today marks a new chapter in the history of our company. Based on the clearly defined strategies in our Mercedes Car Group, Truck Group, Financial Services business divisions and for vans and buses, and our company's healthy balance sheet, we have every reason to move confidently into the future." I have a feeling Chrysler will survive the next decade. Beyond that, who can say what hurdles we'll see from international competitors? The company has a decent product mix right now, and brands like Jeep that will have a loyal following forever. Do plastics suppliers expect to see much change, with Chrysler in the hands of a private equity firm?
Private equity wins Chrysler
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