Wake up, Woke -
Chrysler isn't owned by Daimler any more; it's owned by a company called Cerberus Capital Management, an American private equity firm. Daimler only holds a minority stake in Chrysler since the sale, less than 20%, which it is in the process of giving up (as in, "as fast as it possibly can").
Have yew done ever heard about this new Innernet thang called Google?
#74 | POSTED BY MARYTYLERWHORE AT 2010-02-04 02:11 PM
Why yes, Mr. Smartass, I have. Have you? Is FIAT an American company? I didn't know that.
The deal announced this week not only gives Italy's Fiat S.p.A. a flexible stake in Chrysler, but turns the ultimate control of the automaker into the financial equivalent of a five lane roundabout.
Chrysler is nominally controlled by Cerberus Capital Management, which acquired an 80.1% stake in the company from Daimler AG in August, 2007. Fiat will get 35% of Chrysler under terms of the yet-to be finalized deal. The terms also grant Fiat the option of raising its stake to 55%.
Cerberus is already slated for dilution under the terms of the government bridge loan, agreed to in December. The bridge loan gives the U.S Treasury warrants to purchase 5% to 15% of the Chrysler shares now in the hands of Cerberus.
Fiat will eat further into the Cerberus stake, and it also has the option of tapping into Daimler AG's remaining stake in Chrysler as a way to build its stake to 55%, according to Rebecca Lindland of the consulting firm of Global Insight.
Read more: www.time.com
55%.
Is that a majority number? So, is Chrysler owned by Americans MTW?