Friday, May 06, 2016
Current Weather
Loading Current Weather....
Published: Thursday, 5/17/2007

Daimler board OKs sale of Chrysler

BERLIN DaimlerChrysler AG s supervisory board gave its formal approval yesterday for the shedding of its money-losing Chrysler unit, clearing the way for the company to re-enter the market as a streamlined Daimler AG.

The vote by the board, the equivalent of a U.S. board of directors, was taken two days after the company announced plans to sell an 80.1 percent stake in Chrysler to the private equity firm Cerberus Capital Management LP.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.