Investment banks helping Cerberus Capital Management LP finance its buyout of Chrysler, the U.S. arm of automaker DaimlerChrysler, will launch a road show in the next week to raise funds for the deal, according to a report in the Wall Street Journal, citing a source familiar with the matter.
Road show meetings are to take place Tuesday on the West Coast and Friday on the East Coast, according to Standard & Poor's Leveraged Commentary & Data, the Journal reported.
J.P. Morgan Chase & Co., Bear Stearns Cos., Goldman Sachs Group Inc., Citigroup Inc. and Morgan Stanley are helping Cerberus raise some $62 billion in debt for the deal, which includes Chrysler's finance arm, WSJ said.
On May 14, DaimlerChrysler AG announced that it was selling Chrysler to Cerberus in a $7.4 billion deal.
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