• 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.

    On April 27, 2009, Daimler said it would divest itself of its remaining stake in Chrysler, dissolving the merger completely. Daimler promised to pay $600 million into the Chrysler pension plan over the next three years and promised to forgive loans involved in the Cerberus sale.New York Times: Daimler Reaches Deal to Unload Chrysler Stake (April 27, 2009)

  • Daimler Fast Facts

    1. Stock symbol: DAI
    2. Annual sales (2007): $146.4 billion
    3. Year Established: 1998
    4. Industry: Automotive
    5. Phone: +49-711-17-0
    6. Fax: +49-711-17-222-44
    7. HQ: Stuttgart, Germany
    8. Corporate Governance:
      1. Dieter Zetsche
      2. Rudiger Grube
    9. [Bodo Eubber
    10. Staff: 360,385
    11. World's 13th largest car manufacturer

  • Key Dates

    1. 1926: Daimler-Benz was founded
    2. 1998: Daimler-Benz merges with Chrysler
    3. 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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