Magna Confirms Chrysler Interest

Canadian auto-parts maker Magna International (MGA Quote) confirmed "involvement" in the potential purchase of DaimlerChrysler's(DCX Quote) U.S. unit.

The company said Friday that it "continues to review potential alternatives" related to the future of Chrysler Group.

"Magna is seeking a full understanding of the situation regarding the future of the Chrysler Group, and any constructive role Magna may play in a potential transaction," the company said. DaimlerChrysler is one of the Magna's biggest customers.

Magna is expected to team up with a private-equity player for any bid for Chrysler. Canada's Globe and Mail reported Thursday that the company is working with Onex Corp.

So far, only Kirk Kerkorian's Tracinda Corp. has gone public with a bid for Chrysler. Last week, the firm announced a $4.5 billion offer for the automaker.

Other potential buyers include private-equity duo Blackstone Group and Centerbridge Capital Partners, as well as Cerberus Capital Management.