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DaimlerChrysler eyes retaining some Chrysler ties

From reuters| March 23,2007

DaimlerChrysler AG, in talks with potential buyers of its Chrysler Group, has outlined detailed areas of cooperation that it would be willing to continue between its Mercedes division and any new owners of Chrysler, people familiar with the matter said in The Wall Street Journal.

The discussion of continued cooperation with Mercedes in purchasing, component sharing and engineering indicates that talks with potential buyers are moving to a more advanced stage, the Journal said, and that Chrysler and Mercedes are likely to remain allied in the automotive industry even if they become separate companies.

DaimlerChrysler expects to have preliminary offers to buy Chrysler by the end of the month from at least three bidders: private equity firm Cerberus Capital Management LLC, the private-equity tandem of Blackstone Group [BG.UL] and Centerbridge Partners LP, and Canadian auto parts maker Magna International Inc. (MGa.TO: Quote, Profile, Research), according to people familiar with the matter.

 

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