Blackstone leads private equity firms in Chrysler bid: The Detroit News

05 March 2007

New York: According to a report on the online edition of the The Detroit News private equity firm Blackstone Group is a leading contender to acquire Chrysler, the US division of German automaker DaimlerChrysler AG.

Chrysler was merged with DaimlerChrysler in 1998.

According to the report, Blackstone has prepared a detailed analysis of Chrysler`s finances and operations prior to making a formal bid. Other possible contenders named in the reported to be Cerberus Capital Management.

Previously Carlyle had also been linked with the beleaguered automaker, once a part of the "big three" US automakers

Earlier GM had held preliminary talks with DaimlerChrysler about an outright acquisition of Chrysler through a share swap.

According to other media reports, private equity firms are expected to be among the potential bidders for Chrysler that would consider the automaker's sale-related documents.