EU Approves Purchase of Chrysler by Cerberus
By: Reuters
Private U.S. equity firm Cerberus won approval from the European Commission on Tuesday to buy the Chrysler operations of auto giant DaimlerChrysler, under a simplified procedure.
The deal was approved under the special procedure because neither customers nor competitors had objections.
In May, DaimlerChrysler agreed to shed most of its stake in the money-losing Chrysler Group by agreeing to pay a $1.55 billion sweetener to clinch a deal for Cerberus to take over the U.S. automaker.
Private U.S. equity firm Cerberus won approval from the European Commission on Tuesday to buy the Chrysler operations of auto giant DaimlerChrysler, under a simplified procedure.
