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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.

Chrysler reportedly set to expand Toledo assembly plant

The Chrysler Group is planning to expand its Toledo, Ohio, assembly complex, adding a second shift and more than 1,100 jobs to the operation that currently builds the Jeep Liberty and Dodge Nitro SUVs, the Toledo Blade newspaper reported Thursday. The $365 million investment could be the first of several major expansions to Chrysler's Toledo operations, which also include production of the Jeep Wrangler at the nearby Toledo North Plant, the newspaper reported. The automaker disclosed the plans in documents filed in a city tax application that will be discussed by local officials at a meeting Thursday night, the report said.

Council parking ‘spy car’ gets speeding ticket

A council-owned ‘spy car’ designed to catch people parking their vehicles unlawfully has been snapped travelling over the speed limit. Dorset police officers recorded the parking enforcement camera car travelling at 36mph in a 30mph area, handing the driver a £100 on-the-spot fine and three penalty points on their licence, according to the Bournemouth Echo. On Bing: see pictures of camera cars Cameras to catch illegal parking on the school run The speeder was given the option of attending a £110 speed awareness course, however, which could mean the motorist manages to evade the points.