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Chrysler sale expected to take
months
BY A CORRESPONDENT
March 1, 2007: Automobile majors
DaimlerChrysler and General Motors who
are in talks with regard to the sale
of Chrysler are likely to involve the
German-led business taking a minority
stake in GM, said a report.
According to the report quoting top
sources, a cross-holding that cick and
fastould follow the pattern of
previous joint ventures by General
Motors would forge a tighter link
between the two than a straightforward
sale.
There have been rumours Chrysler ready
to be bought out. The speculations
ganed momentum when JPMorgan had
started to send out information to
interested parties a few days ago.
While many auto majors dropped out,
Canadian auto parts supplier Magna has
been tipped as a potential purchaser
after KeyBanc Capital Markets said
that the group was seriously
considering a purchase of Chrysler.
There has been no official statement
on this yet from Magna.
Thoug speculations fly thick and fast,
the sale of Chrysler is expected to
take several months. The parleys
between DaimlerChrysler and General
Motors had started n December last
year.
In October, General Motors had
announced that joint venture talks
between the auto major and
Renault-Nissan had broken down.
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