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3.0 Chrysler Case
3.0.1 About Chrysler
Founded in 1925, Chrysler is an American automobile manufacturer. From 1998 to 2007, Chrysler and its subsidiaries were part of DaimlerChrysler after a ‘merger’ with Daimler-Benz. Chrysler went into another of its financial problem soon after the merger which caused a price plunge in the stock price of the merged company.
After the merger, the plan for cost-cutting by sharing platforms and components began together with the launch of new model With Chrysler now providing a significant share of the Daimler Chrysler profits due to restructuring efforts at the Mercedes Car Group.
3.0.2 On the case
On May 14, 2007 DaimlerChrysler AG announced the sale of 80.1% of Chrysler Group to a Private Equity Funds Cerberus Capital Management, L.P. The deal was finalized on August 3, 2007.