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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.

New fuel marker to prevent fraud

A NEW RED DYE fuel marker is being introduced by the British and Irish governments to tackle fraud. The illegal use of cheaper fuel in the UK means criminals avoid paying tax and can sell it on at a lower rate than normal fuel from a petrol station. The new marker will make it harder for criminals to disguise fuel by removing the red dye.

Family releases fatal motorcycle crash video

A BEREAVED FAMILY has released shocking video clips of a motorcyclist's road death in a bid to highlight the dangers on our roads. David Holmes, 38, was killed on the A47 in Norfolk in June last year. He was travelling at 97mph when a car crossed into his path.