DaimlerChrysler has rebuffed rumours that the sale of Chrysler to Cerberus will be delayed amid investor concern that financing for the deal may fall through.
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“There are absolutely no indications that there could be any kind of delay to developments with Cerberus,” a spokesman told the dpa-AFX news agency. The company is still expecting the deal to be concluded by the end of the third quarter.
Cerberus is seeking US$20bn in loans to acquire the company.
Separarately, a spokesman told Bloomberg that a date for a shareholders meeting has not been set, contrary to an Automobilwoche report on Wednesday that a meeting has been arranged for 4 October.
John Snow, chairman of Cerberus Capital Management, will this afternoon address the Detroit Economic Club in a speech that is expected to touch on the impact on the North American vehicle industry of the private equity firm’s ongoing work to take control of Chrysler, according to the Detroit Free Press.
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