DaimlerChrysler Financial Services will separate Mercedes-Benz and truck financial operations from Chrysler Financial when Daimler sells its Chrysler Group but employees will remain in Michigan.

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According to the Associated Press (AP), DaimlerChrysler Financial on Monday said that it would transfer 400 employees in the Mercedes and truck business units to an office building near DaimlerChrysler Financial’s current Americas headquarters in the Detroit suburb of Farmington Hills and added that those 400 workers would remain employees of the new Daimler once the sale of Chrysler Group to Cerberus Capital Management is completed in the third quarter.


The 800 people who now work for Chrysler Financial will stay at the current headquarters and work under Cerberus, AP added.


The split could create another 200 jobs across North and South America, with about 100 of them in Oakland County, Michigan, DaimlerChrysler Financial said in a statement cited by the news agency.


Company spokesman Jack Ferry would not comment to the Associated Press on whether Chrysler Financial operations eventually would be consolidated into GMAC Financial Services.

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The news agency noted that Cerberus and a consortium of investors last year bought a majority stake in GMAC from General Motors for about $14bn and analysts have said buying a big stake in Chrysler would allow Cerberus to combine GMAC operations with Chrysler Financial.


DaimlerChrysler Financial Services employs 5,600 people nationwide in the US, the report added.