After yesterday's news of Chrysler handing over a 35% stake to FIAT, today we have learned that Daimler AG wants out of its 19.9% stake in the flailing American auto giant.
Daimler sold 80.1% of the Chrysler group to a private equity firm back in 2007, for a reported sum of $7.4 billion.
Now Daimler is apparently trying to divest itself of its remaining share of the firm, but is unlikely to see the same sort of valuation on the remaining equity.
This news comes as new US president Barack Obama enters office, and all eyes will be on him in his first few weeks in the top job for action to heal the troubled US car market.
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