An emblem of GAZ-21 (Volga) car produced by GAZ automobile maker of Russia
Photo: Grigoriy Sobchenko
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GAZ to Bid for Buying Chrysler
Russia’s GAZ Group is informally said to be eyeing the purchase of Chrysler Group, the losing division of German-U.S. DaimlerChrysler AG automobile consortium, ARD said referring to German media.
Russia's GAZ Group of Oleg Deripaska is said to be willing to bid for buying Chrysler. Meanwhile, German Volkswagen, South Korean Hyundai Motor Co. Ltd., Japanese Mitsubishi Motors Corp., Italian Fiat and the alliance of Renault and Nissan Motor Co. have renounced the idea of building strategic partnership with this losing division of the automobile giant.
But U.S. General Motors is still very active when it comes to Chrysler. According to unconfirmed reports, GM has held preliminary negotiations with Chrysler aimed at either acquiring or entering into a strategic alliance with the company.
DaimlerChrysler AG is deciding whether to dispose of Chrysler in exchange for a minor stake in U.S. General Motors Corp., Britain’s media reported Monday. Other options are selling the division to private or industrial investors or launching Chrysler’s stocks on the market.
A source close to negotiations said DaimlerChrysler AG would prefer to get stocks of GM for Chrysler.
On February 14, DaimlerChrysler first confirmed the intention to end its long-term cooperation with Chrysler. Today’s statement of the company says the automobile consortium is ready to consider all options, including the sale of the losing division.
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