stake


Daimler agrees to give up remaining stake in Chrysler

Hot on the heels of the Chrysler's tentative deal with the UAW to cut the automaker's VEBA obligations, Daimler AG has announced it's finally reached an agreement to unload its remaining stake in Chrysler. According to Daimler's release, the company's 19.9% stake in Chrysler will be redeemed and Daimler write off a $1.5 billion loan which will help (if it can) avoid putting Chrysler into bankruptcy and facilitate the automaker's deal with Fiat. The agreement is likely to reduce Daimler's second-quarter earnings (before interest and taxes) by ... Read more →

Porsche doesn't plan to take over VW... yet Noah Joseph

The latest in Porsche-Volkswagen relations is that the sports car maker has contingencies in place to raise its stake in the VW Group, but at this point is not planning an outright takeover. As you ...

Porsche proposes to Volkswagen Noah Joseph

It's official, Porsche has submitted an offer to buy the Volkswagen group. Unless you've been living in a cave, you probably already know that the erstwhile sportscar manufacturer is more profitable ...

DaimlerChrysler buys Chinese commercial truck company John Neff

China is the fastest growing market in the world and it's gobbling up autos at a prodigious rate. Every global automaker wants a piece of the pie and the one's that moved quick and early to enter the ...

Kerkorian cuts stake in General Motors John Neff

Billionaire investor Kirk Kerkorian announced today that his investment firm Tracinda Corp. had cut its stake in General Motors from 9.9 by selling $462 million worth of the automaker's stock. That ...






Autoblog Podcast #154: Gobbling up the News

Chris, Sam, and Dan kick out a podcast just in time for the long holiday drive.

 
 

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