European Regulators OK Chrysler Sale
European Union regulators have approved private-equity firm Cerberus Capital Management’s plan to buy DaimlerChrysler’s Chrysler division for $7.5 billion, Bloomberg reported Tuesday.
Separately, the company’s financial services unit will uncouple its Mercedes-Benz and truck financial operations from Chrysler Financial, the Associated Press reported.
DaimlerChrysler Financial said it will transfer 400 employees in the Mercedes and truck business units to a nearby office building near the financial unit’s Americas headquarters Farmington Hills, Mich., near Detroit.
The 400 workers will remain employees of the new Daimler AG once the Chrysler sale is completed in the third quarter, the company said.
DaimlerChrysler is the parent company of U.S. truck maker Freightliner LLC, which includes U.S. truck making companies Freightliner, Sterling and Western Star.
