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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.

Bugatti supercars

By Tim Pollard 29 July 2008 09:00 You could say that Bugatti has been round the houses. Originally founded in 1909, it ceased trading in the Sixties. Rich Italian maverick Romano Artioli revived the brand in 1987 and in the following eight years he created the landmark EB110 and even acquired Lotus, before the business collapsed in 1995.

Michael Mauer appointed head of design at Porsche

Porsche AG has anounced the appointment of Michael Mauer to take over as chief designer from Harm Lagaay, who will retire on July 1 after 15 years in the post. Michael Mauer, 41, studied automobile design at Pforzheim University, and started his career at Mercedes-Benz. In 1989, he was appointed design project leader for the Mercedes V Class models, and was in charge of design work for the first SLK model generation.