Daimler in Talks to Sell Chrysler Unit
DaimlerChrysler AG chief Dieter Zetsche said for the first time that the company is negotiating the sale of its Chrysler unit, Bloomberg reported Wednesday.
Zetsche told the company’s annual general meeting in Berlin Wednesday that Daimler was in talks with “potential partners” for the sale, Bloomberg reported.
Auto parts supplier Magna International and private equity firms Blackstone Group and Cerberus Capital Partners and Blackstone have launched bids for Chrysler, Bloomberg said, citing people familiar with the talks.
DaimlerChrysler is the world’s largest manufacturer of commercial vehicles, including the Freightliner, Sterling, and Western Star brands of Class 8 trucks in North America.
In February, Zetsche said he would consider selling Chrysler after the unit posted a $1.5 billion loss for 2006.
