EU approves Cerberus purchase of Chrysler

(Reuters) - DaimlerChrysler agreed in May to sell most of its stake in the money-losing Chrysler Group and its related financial services business to Cerberus.




The deal, which is expected to close in the third quarter, still needs approval from the U.S. authorities.


Read more at Reuters.com Government Filings News

Tower Automotive proceeding with sale to Cerberus

(Reuters) - CHICAGO, June 21 - Tower Automotive Inc. said on Thursday it would proceed with its planned sale to Cerberus Capital Management [CBS.UL] after the bankrupt U.S. auto parts maker received no competing offers.



Tower expects to seek approval of its reorganization plan and the sale to Cerberus in a deal valued at about $1 billion from the U.S. Bankruptcy Court for the Southern District of New York on July 11. The Novi, Michigan-based producer of automotive body structures and assemblies filed for bankruptcy in February 2005. Management aims to complete the sale to Cerberus affiliate TA Acquisition Co. LLC and exit bankruptcy by the end of July.


Read more at Reuters.com Government Filings News

Tower Auto has no bids to rival Cerberus offer

(Reuters) - Tower, which filed for bankruptcy in February 2005, expects to seek approval of its reorganization plan and sale to Cerberus from the U.S. Bankruptcy Court for the Southern District of New York on July 11. It hopes to complete the transaction by the end of July.






Read more at Reuters.com Bonds News

UPDATE 1-Cerberus offers to buy Germany's RAG

(Reuters) - RAG confirmed that German politicians who approved on
Wednesday a flotation of RAG's non-coal businesses knew of an
offer from Cerberus worth 6-8 billion euros and that additional
offers from financial investors were also expected.




Cerberus declined to comment.


Read more at Reuters.com Mergers News