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Blackstone in lead as Chrysler bidder, examining books - report


Published : Mon, 05 Mar 2007 09:33
By : Agencies
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FRANKFURT (AFX) - Private equity behemoth Blackstone Group is the leading contender in the bid for DaimlerChrysler AG's Chrysler unit, Sueddeutsche Zeitung said, citing Detroit News.

Blackstone is currently examining the faltering automaker's financial situation, the US newspaper said on Saturday, citing people familiar with the sales process.

With a war chest of 125 bln usd and experience in the automotive sector, Blackstone emerged as the most likely among a handful of buyers, including General Motors and Cerberus Capital Management, the report said.

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