Daimler sold 80.1 percent of Chrysler last year, but apparently that’s not enough separation from the struggling American automaker.
The company confirmed that it is having “discussions with Cerberus Capital Management regarding the redemption of its remaining 19.9 percent stake in Chrysler LLC,” after rumors of a sale surfaced in the German media. If the negotiations succeed, Cerberus will gain full ownership of Chrysler while Daimler will have completely extricated itself from its largely unsuccessful financial partnership.
Chrysler told dealers earlier today it has lost $400 million through August amid the market wide sales slump. It is unclear how, if at all, the possible sale will impact the two automakers’ cooperation on future products.