Buyout experts from Cerberus Capital Management met Monday with Chrysler Group executives to evaluate a possible bid for the troubled U.S. division of DaimlerChrysler AG, according to people close to the situation.
Cerberus, a leading private-equity firm, is the first Wall Street investor to visit Chrysler headquarters in Auburn Hills for an in-depth review of the automaker's finances and operations.
A second private-equity powerhouse, the Blackstone Group, is scheduled to meet one on one with Chrysler management later this week, people familiar with the matter told The Detroit News.
The meetings suggest that the sale process for Chrysler is entering a critical phase, as big-money investors begin to dig deep into the prospects of purchasing the one-time No. 3 U.S. automaker.
Cerberus, a leading private-equity firm, is the first Wall Street investor to visit Chrysler headquarters in Auburn Hills for an in-depth review of the automaker's finances and operations.
A second private-equity powerhouse, the Blackstone Group, is scheduled to meet one on one with Chrysler management later this week, people familiar with the matter told The Detroit News.
The meetings suggest that the sale process for Chrysler is entering a critical phase, as big-money investors begin to dig deep into the prospects of purchasing the one-time No. 3 U.S. automaker.
