FARMINGTON HILLS, Michigan (
) -- Cerberus Capital Management is seeking buyers for auto lender
Cerberus, the private-equity firm, acquired the lender as part of its takeover of Chrysler LLC in 2007.
Cerberus, in recent days, began soliciting interest in Chrysler Financial from large banks,
reports, citing two people with knowledge of the matter.
The former lending arm of Chrysler has a book value of about $6 billion or $7 billion, the people said,
Chrysler emerged bankruptcy in June 2009. Cerberus retained ownership of Chrysler Financial, while the surviving Chrysler automaker is now controlled by managers from
-- Written by Joseph Woelfel
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