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Chrysler sold in £3.76 billion deal

By Ben Whitworth Motor Industry 17 May 2007 09:38 Chrysler has been sold. In one of the biggest private equity deals seen in the automotive industry, Cerberus Capital Management has purchased 80.1% of Chrysler in a £3.76billion deal, leaving DaimlerChrysler with the remaining 19.9% stake in the loss-making company. The move marks the close of arguably the most high-profile transatlantic merger and shuts the door on Canadian car assembly giant Magna and billionaire Kirk Kerkorian, who last month offered £2.27billion for Chrysler.

Monaco Grand Prix 2014: It’s a Mercedes front row – but it’s Rosberg on pole

Nico Rosberg (pictured) takes pole for Mercedes at Monaco 2014 Nico Rosberg has taken pole position for tomorrow’s Monaco Grand Prix, but the way in which he took pole position does leave room for doubt. Rosberg did seem quicker in final qualifying, but he ‘went off’ at the Mirabeau corner as final qualifying was coming to a close and depriving Lewis Hamilton of the chance to grab pole on his last qualifying lap. Did Rosberg go off on purpose to wreck Hamilton’s final run?

Fiat UK launches design competition

Fiat Group Automobiles UK, has announced a nationwide design competition to find fun new ways to travel. The competition starts today. The contest, called the ‘Smiles per Hour Design Competition', is a UK-wide search for budding inventors of tomorrow to create interesting and amusing ways to enjoy a journey.