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It's Official! Chrysler sold for $7.4 Billion

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$7.4 Billion Dollars. That's how much the private equity firm Cerberus paid for Chrysler. The new owners will stake claim to 80% of Chrysler, while Daimler will retain 20% ownership. Daimler will also assume all old debts, and the new Chrysler will start over with a fresh clean slate debt free, however the responsibility of future retiree health care costs will fall into Cerberus's lap. Given the fact that Daimler originally paid $37 Billion for Chrysler, this huge failed experiment is finally over for DaimlerChrysler. Read the full story over at CNN Money.

 

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It's Official! Chrysler sold for $7.4 Billion

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