ING, TD Bank Eyeing Chrysler Financial
NEW YORK (
) --
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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