EU approves Cerberus/Chrysler deal
Since there were no objections from any of the parties involved, the approval was fast-tracked using a special simplified procedure, and the same approach is expected to be taken on U.S. soil.
Under the terms of the deal, Cerberus will become the owner of an 80.1% stake in Chrysler and its financing businesses. Of the $7.4 billion dollars it's paying for the privilege, $6.05 billion will go towards Chrysler and its finance arm, with $1.35 billion paid into the coffers of Germany's Daimler. In return, Daimler will offer a loan of $405 million to Chrysler and an additional $880 million to cover its long-term liabilities.
[Source: Automotive News - Sub. Req.]
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