Auto Service World
News   April 30, 2007   by Auto Service World

Magna-Onex get closer to being minority shareholder in Chrysler

According to news reports, Magna International Inc. is getting close to becoming a minority shareholder in the Chrysler group.
Brett Hoselton of KeyBanc Capital Markets Inc. is reported to have issued a report which states that the UAW has approached Magna with a “framework concession package.”
The package would allow for the sale of the Chrysler Group to Magna and Onex Corp., a Canadian private equity firm. If the deal goes through, Magna would hold some 25 to 50 per cent of Chrysler, while Onex would have a stake of 40 to 65 per cent. DeimlerChrysler AG would retain a 10 per cent stake.

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