Former DCX Exec - Wolfgang Bernhard To Advise Cerberus On Chrysler Bid

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Thread: Former DCX Exec - Wolfgang Bernhard To Advise Cerberus On Chrysler Bid

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    Former DCX Exec - Wolfgang Bernhard To Advise Cerberus On Chrysler Bid

    FRANKFURT (Reuters) - Buyout firm Cerberus Capital Management LP (CBS.UL: Quote, Profile, Research) has hired Chrysler's former chief operating officer to advise it on a possible bid for the U.S. carmaker, a source familiar with the matter said on Wednesday.

    Turnaround expert Wolfgang Bernhard, a prime author of Chrysler's short-lived earnings rebound earlier this decade, has signed up with Cerberus, boosting its chances in the scrum to buy the loss-making DaimlerChrysler (DCXGn.DE: Quote, Profile, Research) division, the source said.

    Cerberus declined comment.

    Cost-cutter Bernhard, 46, most recently worked at Volkswagen (VOWG.DE: Quote, Profile, Research) before leaving in January amid a management reshuffle.

    ARTICLE CONTINUES AT LINK.

    http://www.reuters.com/article/ousiv...ES_merger_talk

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    Re: Former DCX Exec - Wolfgang Bernhard To Advise Cerberus On Chrysler Bid

    It's looking more and more likely that a PE company will buy Chrysler if it is sold. This will make for an interesting development since Chrysler would be the only privately held major manufacturer.

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    Re: Former DCX Exec - Wolfgang Bernhard To Advise Cerberus On Chrysler Bid

    Quote Originally Posted by throwback
    It's looking more and more likely that a PE company will buy Chrysler if it is sold. This will make for an interesting development since Chrysler would be the only privately held major manufacturer.
    I was skeptical until this development. I think this will give this particual private equity firm a big lead. Bernhard will be able to give them a better sense of the real value. This will allow them to make the best bid.

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