DaimlerChrysler will hold a news conference at 1200 GMT to announce the deal

[FrenchCamp49er]

FRANKFURT (Reuters) - DaimlerChrysler (DCXGn.DE) has clinched a deal to sell a majority stake in its struggling Chrysler Group division Cerberus Capital Management, a person familiar with the situation told Reuters on Monday.

DaimlerChrysler will hold a news conference at 1200 GMT to announce the deal, two sources said.

 

[MoladoGuy]

Union will not be happy.

 

[desertkj]

However, I just went and did some research on Cerberus and it does actually sound promising.

http://www.cerberuscapital.com/about_comp_prof.html