Daimler finally decided to sell the Chrysler company because of its serious financial crisis. The president of Daimler-Chrysler, Dieter Zetsche, announced that the new head of the big American car will be “Cerberus Capital Management”, which already has a subsidiary in that country that will assume control of Chrysler and its dependent brands such as Jeep, Dogde and Chrysler.
The group will now be named only Daimler and retain 19.9 percent of Chrysler's shares, and then form Chrysler Corporation LLC.
Cerberus manages leading companies in different markets in the textile, chemical, construction, transportation and even some related to militia and energy resources.
The DaimlerChrysler business consortium was founded in 1998, composed of Daimler-Benz (Germany) and Chrysler Corporation (USA). Currently this group is located as the fifth automotive manufacturer in the world.
Dieter Zetsche stated that he intended to become the world's leading manufacturer of vehicles in all possible market segments in which they present their products.
While John Snow, a member of Cerberus, explained that this company relies heavily on the strength of the American industry and its automotive industry. Although even more important to him, they strongly believe in the possibilities of the Chrysler company.
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