DaimlerChrysler
DaimlerChrysler AG was an automobile manufacturing corporation that formed after the Daimler-Benz and Chrysler $36 billion merger in 1998. After almost 10 years of partnership, Daimler sold 80.1% of its interest in Chrysler to Cerberus Capital Management for $7.4 billion.
Daimler Fast Facts
- Stock symbol: DAI
- Annual sales (2007): $146.4 billion
- Year Established: 1998
- Industry: Automotive
- Phone: +49-711-17-0
- Fax: +49-711-17-222-44
- HQ: Stuttgart, Germany
- Corporate Governance:
- Dieter Zetsche
- Rudiger Grube
- Bodo Eubber
- Staff: 360,385
- World's 13th largest car manufacturer
Key Dates
- 1926: Daimler-Benz was founded
- 1998: Daimler-Benz merges with Chrysler
- 2007: Chrysler sold to Cerberus Capital Management
Product List
Reversed Merger
In early 2007, Daimler agreed to pay Cerberus Capital Management $650 million to assume control of Chrysler and its attached liabilities. In turn, Cerberus invested $5 billion in Chrysler Holdings Inc., and and additional $1.05 billion in Chrysler's financial company. Cerberus then sent $1.35 billion to Daimler to complete to deal.
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