Daimler washes its hands of Chrysler

By Edward Harrison On Apr 27, 2009

The German car maker Daimler wants to put the Chrysler chapter behind it, so it will give up its remaining 19.9% stake and forgive all remaining loans. See BBC story.

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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3 Comments

Mark Wadsworth says 15 years ago

I must admit I’d lost track of the most bizarre ‘merger’ in corporate history ever, I thought Daimler had dumped Chrysler years ago.
Edward Harrison says 15 years ago

Funny that, Mark. These things have a way of lingering, don’t they. It wouldn’t surprise me if we learned there was some residual financial connection between Opel and Fiat as well.

If I were Daimler, I would steer well clear of this whole mess. With five governments (U.S., Italy, Germany, Canada and Austria) now involved in the bids for Chrysler and Opel, you are going to get a very political outcome.

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