Cerbeurs sells stakes in Chrysler, GMAC - FALSE! - ModernCamaro.com - 5th Generation Camaro Enthusiasts
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post #1 of 7 Old 06-02-2008, 11:30 AM Thread Starter
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Cerbeurs sells stakes in Chrysler, GMAC - FALSE!

Cerberus Capital Management has sold a major part of its stake in Chrysler and GMAC.

The U.K's Financial Times said about 90 investors paid as much as $1 billion for stakes in the U.S car maker and the former financial services arm of General Motors Corp.

According to the report, Cerberus' decision to reduce its stake stems from trying to lower its risk especially given that both deals have proved disappointing for the buyout firm.

http://www.clickondetroit.com/news/16458581/detail.html

Not good for Chrysler's future, too many investors now.

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post #2 of 7 Old 06-02-2008, 11:37 AM
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pwn3d


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post #3 of 7 Old 06-02-2008, 01:07 PM
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Cerburus just denied this claim.
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post #4 of 7 Old 06-02-2008, 06:09 PM Thread Starter
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Good call, they just updated this article confirming the non-truth of it.

Quote:
Cerberus Capital Management LP has not sold any of its stake in Chrysler LLC or finance company GMAC LLC, a spokesman said Monday.

The Financial Times had reported that the private-equity firm sold more than half the equity it holds in both companies. The newspaper, quoting unidentified people familiar with the situation, said Cerberus tried to reduce its risk by selling stakes to investors including major banks and hedge funds.

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post #5 of 7 Old 06-02-2008, 07:41 PM
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either way it sounds like Chrysler is like a boat with a slow leak and an intermitant bilge pump..

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post #6 of 7 Old 06-02-2008, 08:38 PM
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i wish it was true. Shoot the horse with the broken leg already


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post #7 of 7 Old 06-03-2008, 06:19 AM
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no Jinx..as much as you migh hate Chrysler it would be very bad for them to go away..VERY bad..lets put it this way Ford and GM needs them to stay here and be a part of this competition than without them..

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