Cerberus Chairman 'Confident' on Chrysler Financing

Cerberus Capital Management Chairman John Snow said on Wednesday that the private equity firm is "confident" it will secure Chrysler financing and sees the deal closing in the current quarter.

Snow also said the firm has no plans for an "exit strategy" regarding the Chrysler investment.

The comments came as shares of German automaker DaimlerChrysler lost gound on market talk of possible financing difficulties for the sale of Chrysler to Cerberus.