Guide Note

DaimlerChrysler AG was an automobile manufacturing corporation that formed after the Daimler-Benz and Chrysler $36 billion merger in 1998. After almost 10 years of partnership, Daimler sold 80.1% of its interest in Chrysler to Cerberus Capital Management for $7.4 billion.

Daimler Fast Facts

1. Stock symbol: DAI
2. Annual sales (2007): $146.4 billion
3. Year Established: 1998
4. Industry: Automotive
5. Phone: +49-711-17-0
6. Fax: +49-711-17-222-44
7. HQ: Stuttgart, Germany
8. Corporate Governance:
   1. Dieter Zetsche
   2. Rudiger Grube
   3. Bodo Eubber
9. Staff: 360,385
10. World's 13th largest car manufacturer

1. 1926: Daimler-Benz was founded
2. 1998: Daimler-Benz merges with Chrysler
3. 2007: Chrysler sold to Cerberus Capital Management

• Mercedes-Benz
• Mercedes-AMG
• Maybach
• Smart
• Western Star
• Freightliner
• Orion Bus

In early 2007, Daimler agreed to pay Cerberus Capital Management $650 million to assume control of Chrysler and its attached liabilities. In turn, Cerberus invested $5 billion in Chrysler Holdings Inc., and and additional $1.05 billion in Chrysler's financial company. Cerberus then sent $1.35 billion to Daimler to complete to deal.