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Chrysler, Jeep and, recently launched in the UK, Dodge look set to be separated from sister company Mercedes after parent firm DaimlerChrysler today confirmed it is to sell off its Chrysler division to a private equity firm.
Cerberus Capital Management, one of the world's largest private equity firms, will pay £3.8bn for a 80.1% stake in the new company officially known as Chrysler Holding following a month of speculation.
The transaction is expected to be finalised this Autumn.
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