Chrysler sold...

[Leisa]

for 7.4 billion dollars.



Three months to the day after DaimlerChrysler (DCX, news, msgs)announced that "all options" were on the table for its struggling U.S. Chrysler unit, private-equity firm Cerberus Capital Management said it would buy an 80.1% stake in Chrysler for $7.41 billion.

"We're confident that we've found the solution that will create the greatest overall value -- both for Daimler and Chrysler," CEO Dieter Zetsche said in a prepared statement today. "With this transaction, we have created the right conditions for a new start for Chrysler and Daimler."

Cerberus beat out two other bidders: a partnership between rival private-equity players Blackstone Group and Centerbridge Capital Partners, and Canadian auto-parts maker Magna International (MGA, news, msgs).

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Shares of DaimlerChrysler jumped almost 2% to $83.59 in midday trading on the news; the stock has risen 20% since Zetsche announced the company's restructuring plans in February.

The deal is expected to close in the third quarter. Daimler will maintain a 19.9% stake in the new company.

[Sol-Badguy]

I just read about it.

Maybe they'll make a decent car.

[james]

man. that sounds like a horrible deal for the company that bought chrysler. damn.

[2.0civic]

LOLOLOL damn

[civic95]

sounds like they got ripped off to me.

[JITB]

i dont understand chrysler seemed to be doin good selling alot of cars.. esepcailly with the 300..

[SLOWR/T]

man. that sounds like a horrible deal for the company that bought chrysler. damn.

not if they have a solution that can turn them around.

[civic95]

i dont understand chrysler seemed to be doin good selling alot of cars.. esepcailly with the 300..

That and the PT Cruiser are about all that was selling. The rest of them all have that ugly ass grill.

[Mike Lowrey]

I just read about it.

Maybe they'll make a decent car.

I would not go that far....that is crazy talk. LOL

[IndianStig]

I see good things in the future. Chrysler>Buick and shit

[Ran]

Cerberus beat out two other bidders: a partnership between rival private-equity players Blackstone Group and Centerbridge Capital Partners, and Canadian auto-parts maker Magna International (MGA, news, msgs).

Get free, real-time stock quotes on MSN Money

Shares of DaimlerChrysler jumped almost 2% to $83.59 in midday trading on the news; the stock has risen 20% since Zetsche announced the company's restructuring plans in February.

Interesting...

[VooDooXII]

i dont understand chrysler seemed to be doin good selling alot of cars.. esepcailly with the 300..

Actually, that's the only thing that's keeping Chrysler afloat...along with the PT Cruiser, and the Pacifica, and rental car fleets. The Crossfire's too expensive, else it would've been a winner too.

They got it right with the 300, but so incredibly wrong with the rest of their lineup. Their other winner, the Town & Country, has been redesigned and it looks terrible too. They went and ruined something that they had going for them.

I don't know how well the Aspen's doing...maybe it'll help a bit too, but the last thing we need is another SUV. It's just a dolled up Durango. The Durango rides really nicely, and it's loads cheaper. The only thing setting it apart is the fancy trimmings. Is it worth it though? The new Sebring doesn't look too great either, though I think the convertible looks good.

Chrysler used to make some pretty nice looking cars. It seems they're trying too hard at this "art deco" theme for their cars, and they're just getting it all wrong.

They've just been releasing ugly vehicles I think...that's what I see wrong with Chrysler as of now. It's just a lack of desireable cars...there's nothing special about them.

[EssAreTwenTee]

Actually, that's the only thing that's keeping Chrysler afloat...along with the PT Cruiser, and the Pacifica, and rental car fleets. The Crossfire's too expensive, else it would've been a winner too.

They got it right with the 300, but so incredibly wrong with the rest of their lineup. Their other winner, the Town & Country, has been redesigned and it looks terrible too. They went and ruined something that they had going for them.

I don't know how well the Aspen's doing...maybe it'll help a bit too, but the last thing we need is another SUV. It's just a dolled up Durango. The Durango rides really nicely, and it's loads cheaper. The only thing setting it apart is the fancy trimmings. Is it worth it though? The new Sebring doesn't look too great either, though I think the convertible looks good.

Chrysler used to make some pretty nice looking cars. It seems they're trying too hard at this "art deco" theme for their cars, and they're just getting it all wrong.

They've just been releasing ugly vehicles I think...that's what I see wrong with Chrysler as of now. It's just a lack of desireable cars...there's nothing special about them.

hmmm and this whole time I thought it was the huge pension payouts killing them oops guess I was wrong.

[VooDooXII]

hmmm and this whole time I thought it was the huge pension payouts killing them oops guess I was wrong.

Psh, you're right...I'm just suggesting something else that could be wrong.

There's a lot I don't know...bear with me.