Only part of Chrysler to be sold
Posted: 14 April 2007 2337 hrs

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BERLIN : German-US auto giant DaimlerChrysler only wants to sell off a portion of its Chrysler subsidiary.

German magazine Der Spiegel says in its issue to appear Monday that chief executive Dieter Zetsche wants to dismantle Chrysler and sell off the majority stake. Daimler would remain associated to Chrysler, it said.

The magazine, which did not name its sources, reported that Zetsche wants to sustain cooperation between DaimlerChrysler's famed brand Mercedes-Benz and Chrysler.

The three most serious candidates to purchase Chrysler are investment funds Blackstone and Cerberus, as well as Canadian auto parts giant Magna International Inc., Der Spiegel said.

According to the magazine, all three have stressed that Chrysler will remain dependent upon Mercedes-Benz even after the sale.

DaimlerChrysler announced on April 4 that it was in discussions with "potential partners" for the purchase of Chrysler.

- AFP /ls