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U.S. Approves Sale of Chrysler Group to Cerberus

June 20, 2007

DaimlerChrysler recently announced that U.S. antitrust regulators have approved the sale of the Chrysler Group to Cerberus Capital Management LP. According to a DaimlerChrysler spokesperson, the Federal Trade Commission notified the company that its 30-day review of the planned purchase had ended, and the sale had been approved. Cerberus agreed last month to buy an 80.1 percent stake in the Auburn Hills, Mich.-based automaker for $7.4 billion.A company spokesperson said that there are still several hurdles to clear before the sale is finalized, including regulatory approval from some states in the United States and some countries in Europe.
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