Spinoff of the Chrysler Group
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- Date: 14 May 2007
- Description: The Board of Management of DaimlerChrysler AG presents the future concept for the Chrysler Group and the new orientation of DaimlerChrysler AG. The concept provides for a subsidiary of the US investment company Cerberus to take an 80.1 % share in the future Chrysler Holding LLC; the remaining 19.9 % remain in the hands of DaimlerChrysler AG. The completion of the transaction depends on the usual closing conditions, particularly approval from the authorities and financing by Cerberus.