Tuesday, May 15, 2007
Area Chrysler dealers are welcoming the pending sale of Chrysler to a New York-based investment group. “We’re an American company again,” said Chuck Eddy of Bob & Chuck Eddy Chrysler Dodge Jeep in Austintown.
Bob Frederick Jr. of Frederick Chrysler Jeep Dodge in Boardman said he expects the transition to be seamless because the new owners are retaining Chrysler’s executive team and business plan.
Cerebus Capital Management said Monday that it will acquire the Chrysler Group in a $7.4 billion deal with DaimlerChrysler, a German-based corporation that was formed when Daimler-Benz merged with Chrysler in 1998. The deal is expected to close in the third quarter of this year.
Cerebus will own 80.1 percent of Chrysler.
For the complete story, see Wednesday's Vindicator and Vindy.com.