BRUSSELS, Belgium (AP) _ EU regulators have given Cerberus
Capital Management the go-ahead for its purchase of the money-losing
Chrysler car division from DaimlerChrysler AG.
The European Commission approved the US$7.4-billion deal
automatically because it didn't get any complaints and saw no
It was the last regulatory approval needed for the takeover after
U.S. authorities waved it through last month.
German-based DaimlerChrysler agreed in May to transfer an
80.1-per-cent stake in its U.S.-based Chrysler unit to the New York
Cerberus, in turn, agreed to invest US$6.1 billion in Chrysler
and its financing arm and to pay DaimlerChrysler US$1.4 billion.
Canadian auto-parts maker Magna International (TSX:MG) had also
been vying for Chrysler.