Magna International on Friday confirmed that it “continues to review potential alternatives regarding the future of the Chrysler Group”.

In a statement the parts maker and contract vehicle builder said it had previously said that, because DaimlerChrysler is one of its largest customers, it is seeking a full understanding of the situation regarding the future of the Chrysler Group, and any constructive role Magna may play in a potential transaction.

“There is no assurance that any transaction will result from Magna’s current involvement,” the company said in the statement.

Reuters noted that DaimlerChrysler said recently it was in talks to sell the troubled division, while recent reports have suggested Magna could be a bidder, possibly in a joint offer with buyout firm Onex.

The only offer that has been made public so far is a $US4.5bn cash offer from US investor Kirk Kerkorian, while others believed to be interested include private equity firms Blackstone Group and Cerberus Capital Management, the news agency said, adding that reports suggested DaimlerChrysler is hoping to get around $8bn for the unit.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.