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Client Work

DaimlerChrysler sells Chrysler Group to Cerberus Capital Management in US$7.4 billion deal

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Overview

Client

DaimlerChrysler AG

On August 3, 2007, DaimlerChrysler AG completed the US$7.4 billion sale of a controlling 80.1% interest in Chrysler Group (including Chrysler Financial Services LLC, a corporation to be formed to provide financial services to the Chrysler Group) to an affiliate of private equity firm Cerberus Capital Management, LP. The Chrysler Group produces and sells Chrysler, Dodge and Jeep ® vehicles.

Fasken Martineau acted as special Canadian counsel to DaimlerChrysler AG in this sale, with a team that included: Jon Levin, Sean Stevens, Kathleen Yoa, Jennifer Armstrong and Kevin Clinton (corporate); Rob Elliott (financial institutions and services); Anthony Baldanza, Huy Do and Mark Magro (competition); Kathleen Hanly, David Robertson and Paul Casuccio (tax); Berkley Sells (litigation); Dan Law (real estate); Peggy McCallum and Ross Gascho (pensions and benefits); and Ralph Nero and Martin Denyes (labour and employment).

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