German automaker Daimler said Wednesday it wanted to sell its remaining 19.9 percent interest in its former US subsidiary Chrysler to private equity firm Cerberus, which last year acquired a majority stake in Chrysler from Daimler.
“Daimler confirms that it is in talks with Cerberus Capital Management on selling its 19.9 percent holding in Chrysler LLC,” Daimler said in a statement.
The manufacturer was reacting to a report in Manager Magazin and the specialised publication Automobilwoche.
Automobilwoche, citing a Daimler spokesman in New York, said talks between the parties were in an advanced stage and could be completed in the coming weeks.
Daimler, previously known as DaimlerChrysler, sold its majority stake in Chrysler to Cerberus in August 2007. It had been allied with Chrysler for nine years.
