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Daimler moves sales companies back to Chrysler

From AP| April 09 , 2009 09:12 BJT

German automaker Daimler AG said Wednesday it has transferred 22 international sales companies back to Chrysler LLC, in which it was a majority owner until 2007.

Daimler spokeswoman Brigitte Bertram said Daimler didn't have costs or take a payment for the transfer of the companies, which serve as international import outlets for the Chrysler cars. She said that Stuttgart-based Daimler would book "a small gain" in the first quarter, but did not elaborate.

Bertram said the sales companies had locations including Germany, France, Argentina, and in eastern Europe. The transfer had initially been arranged in 2007.

Daimler sold 80.1 percent of Chrysler to New York-based private equity firm Cerberus Capital Management LP in 2007.

Bertram said talks about selling the remaining 19.9 percent stake with Cerberus were still ongoing.

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