ING, TD Bank Eyeing Chrysler Financial

ING and Toronto-Dominion Bank are among several parties in talks to purchase Chrysler Financial, according to a report.
By Joseph Woelfel ,

NEW YORK (

TheStreet

) --

ING Group

(ING) - Get Report

and

Toronto-Dominion Bank

(TD) - Get Report

are among several parties in talks to purchase

Chrysler Financial

, the auto lender owned by Cerberus Capital Management, the

Wall Street Journal

reports.

A deal valued at several billion dollars could be reached in the next few weeks, though there is no assurance the talks will lead to a sale, the

Journal

says, citing a person close to the matter.

Cerberus likely will retain assets of Chrysler Financial as part of any deal, reducing the size of any transaction, according to someone familiar with the matter, the

Journal

reports. Cerberus was approached by several parties in recent weeks about a purchase of Chrysler Financial.

Bloomberg

first reported at the end of November that

Cerberus was seeking buyers for Chrysler Financial

. The private-equity firm acquired the lender as part of its takeover of Chrysler LLC in 2007.

-- Written by Joseph Woelfel

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Joseph Woelfel

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