Daimler-Chrysler

Daimler AG (ISIN: DE0007100000) (formerly DaimlerChrysler AG) is a German car corporation and the world's thirteenth largest car manufacturer. By revenue it is the largest German company. As well as automobiles, Daimler manufactures trucks and provides financial services through its Daimler Financial Services arm. The company also owns major stakes in aerospace group EADS, auto engineers McLaren Group, Japanese truck maker Mitsubishi Fuso Truck and Bus Corporation and US automaker Chrysler Holding LLC.

DaimlerChrysler was founded in 1998 when Mercedes-Benz manufacturer Daimler-Benz (1926-1998) of Stuttgart, Germany merged with the US-based Chrysler Corporation. The deal created a new entity, DaimlerChrysler. However, the buyout failed to produce the trans-Atlantic automotive powerhouse dealmakers had hoped for, and DaimlerChrysler announced on 14 May 2007 that it would sell Chrysler to Cerberus Capital Management of New York, a private equity firm that specializes in restructuring troubled companies, effectively unwinding the original transaction.[1] On October 4, 2007 a DaimlerChrysler Extraordinary Shareholders' Meeting approved the renaming of the company. From October 5, 2007, the company has been titled Daimler AG.[2] The US company adopted the name Chrysler LLC when the sale completed on 3 August 2007.

Daimler produces cars and trucks under the brands of Mercedes-Benz, Maybach, Smart, Freightliner and many others. (Credit: Wikipedia).

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