The Demo Site

Cerberus Capital Management has accused Daimler AG of misleading them about the true value of Chrysler before selling the American private equity group a majority holding in the Auburn Hills carmaker. At this point in time, Cerberus owns 80.1% of Chrysler and Daimler owns the remaining 19.9%, and while the German auto giant is keen to offload its remaining stake to Cerberus, these latest allegations by are hampering the process. Cerberus has accused Daimler of misleading them in regards to certain underwriting practices, claiming that the true value of Chrysler's lease and loan portfolio was much lower than represented.