Cerberus Capital Management

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Banks Put Hold on Chrysler Debt Sale

Global woes beset buyout sector; Daimler deal not affected

(Newser) - Banks yesterday postponed the sale of $12 billion of debt intended to finance the deal that will split off Chrysler from parent DaimlerChrysler. The Journal reports that the holdup is part of a global pinch on the market for corporate debt, and escalating borrowing costs have the potential to slow...

Chrysler Sale Suggests New Deal for Detroit

Ford, GM see hope for restructuring labor costs

(Newser) - The sale of Chrysler to private-equity firm Cerberus Capital Management could be a watershed for the entire industry, the Wall Street Journal predicts. Cerberus thinks it can make the embattled carmaker profitable by restructuring its debilitating $18-billion health care and pension liability. If it succeeds without resorting to bankruptcy—which...

&quot;Vulture Fund&quot; Behind Chrysler Deal
"Vulture Fund" Behind Chrysler Deal
May 14, 2007 10:49 PM CDT

"Vulture Fund" Behind Chrysler Deal

(Newser) - Der Spiegel vivisects Cerberus, the private equity group that won Chrysler for a relative bargain today from German auto giant Daimler. Financier Stephen Feinberg's 15-year-old firm has $60 billion in assets, and specializes in companies on the brink of bankruptcy. The group avoids the spotlight, recruits former CEOs and politicians,...

Daimler to Unload Chrysler in $7.4B Deal

German firm keeps minority stake in American auto giant

(Newser) - DaimlerChrysler has sold a majority stake in the Chrysler Group to the American private-equity firm Cerberus for $7.4 billion, the auto giant announced today. The deal unhooks the money-losing American arm of the international conglomerate from its German partner, which will retain a 19.9% stake in Chrysler and...

Cerberus Close to Consuming Chrysler
Cerberus Close to Consuming Chrysler
May 13, 2007 10:10 PM CDT

Cerberus Close to Consuming Chrysler

Proving that three heads may be better than one

(Newser) - Private equity firm Cerberus Capital Management is said to have cut a deal to buy Chrysler from DaimlerChrysler.  Cerberus has lots of experience in negotiating for assets in the auto industry, having led the buyout of auto parts maker Delphi, which has not yet closed and may yet fall...

DaimlerChrysler Wants Divorce
DaimlerChrysler Wants Divorce
Apr 4, 2007 4:22 PM CDT

DaimlerChrysler Wants Divorce

Detroit legend's fate may be decided in a German boardroom -- but tk can't seem to get out of first gear

(Newser) - DaimlerChrysler is trying to unload its clunky Detroit half, its CEO (and occasional company mascot) Dieter Zetsche confirmed at a shareholder's meeting today. The news, which comes after nearly two months of eager speculation, was a relief to frustrated German shareholders, who have long seen Chrysler as a drag on...

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