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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.

'Selfless' motorway victim hailed

THE FAMILY of a Good Samaritan who was killed after coming to the aid of another man on a motorway have describe him as "generous and selfless". Spencer Bell, 71, from Bushey, Hertfordshire, had stopped to assist a man who had fallen from the Bucknalls bridge over the M1 near junction 5 at about 10.45am yesterday when he was struck by a vehicle. Hertfordshire Police confirmed the man who fell from the bridge was Alan Trethewey, 67, from Watford.

Volkswagen Golf R 400 IS going in to production

The VW Golf R 400 (pictured) is going in to production Well, we did say the VW Golf R 400 – which debuted at the Beijing Motor Show last week – looked production ready. And it seems it is. Car and Driver have had confirmation from VW’s R&D boss, Heinz-Jakob Neusser, that the Golf R 400 isn’t a concept after all but the first look at a new extreme Golf.